Synopsys, Inc. (NASDAQ:SNPS) CRO Sells $10,544,236.38 in Stock

Synopsys, Inc. (NASDAQ:SNPS) CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Synopsys Trading Up 2.1 %

NASDAQ:SNPS opened at $526.70 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s 50 day moving average is $519.43 and its 200 day moving average is $526.69. The stock has a market capitalization of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Davidson Capital Management Inc. raised its stake in Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares during the period. Peloton Wealth Strategists raised its position in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank lifted its stake in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after buying an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. grew its stake in Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after buying an additional 1,496 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNPS shares. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Finally, Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $641.82.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.