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

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated 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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Synopsys Price Performance

NASDAQ:SNPS traded up $10.89 during trading hours on Friday, reaching $526.70. The company had a trading volume of 1,240,502 shares, compared to its average volume of 1,044,771. The firm has a market cap 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. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business's 50 day moving average price is $519.43 and its 200-day moving average price is $526.69.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. Wells Fargo & Company reduced their target price on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. Finally, Piper Sandler dropped their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $641.82.

Institutional Trading of Synopsys

A number of hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Synopsys by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 164,569 shares of the semiconductor company's stock worth $97,929,000 after acquiring an additional 5,236 shares in the last quarter. Rathbones Group PLC boosted its position in Synopsys by 16.3% during the second quarter. Rathbones Group PLC now owns 707 shares of the semiconductor company's stock worth $421,000 after purchasing an additional 99 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Synopsys by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company's stock worth $180,779,000 after purchasing an additional 43,785 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Synopsys in the second quarter valued at approximately $203,000. Finally, Axxcess Wealth Management LLC increased its position in shares of Synopsys by 8.8% in the second quarter. Axxcess Wealth Management LLC now owns 4,386 shares of the semiconductor company's stock valued at $2,610,000 after buying an additional 356 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

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.