Rep. Robert Bresnahan, Jr. Sells Synopsys, Inc. (NASDAQ:SNPS) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Synopsys, Inc. NASDAQ: SNPS. In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Synopsys stock on January 13th. The trade occurred in the Representative's "JOINT OWNERSHIP LPL ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Lowe's Companies NYSE: LOW on 2/7/2025.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Take-Two Interactive Software NASDAQ: TTWO on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 1/29/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Manhattan Associates NASDAQ: MANH on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Credo Technology Group NASDAQ: CRDO on 1/29/2025.

Synopsys Price Performance

Synopsys stock traded down $1.88 during trading hours on Tuesday, reaching $520.65. The company had a trading volume of 290,083 shares, compared to its average volume of 978,467. The company has a 50-day moving average price of $511.06 and a 200 day moving average price of $517.59. The firm has a market cap of $80.48 billion, a price-to-earnings ratio of 35.85, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price for the company. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Wells Fargo & Company lowered their price objective on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Finally, Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $641.82.

Institutional Investors Weigh In On Synopsys

Several large investors have recently modified their holdings of SNPS. Parnassus Investments LLC acquired a new stake in shares of Synopsys in the 3rd quarter worth $633,469,000. Norges Bank acquired a new position in shares of Synopsys during the 4th quarter worth $583,608,000. Price T Rowe Associates Inc. MD lifted its position in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Synopsys during the fourth quarter worth about $239,864,000. Finally, Edgewood Management LLC raised its holdings in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

Synopsys Company Profile

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.