Short Interest in Synopsys, Inc. (NASDAQ:SNPS) Increases By 16.2%

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,510,000 shares, an increase of 16.2% from the January 15th total of 3,020,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 3.3 days.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the 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 directly owns 1,460 shares of the company's stock, 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 this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synopsys

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Capital Management LLC raised its holdings in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after buying an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock worth $1,803,000 after acquiring an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its stake in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after purchasing an additional 20 shares in the last quarter. Finally, Edge Capital Group LLC grew its holdings in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SNPS. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $23.75 during trading hours on Wednesday, hitting $501.25. 2,152,912 shares of the stock were exchanged, compared to its average volume of 1,030,242. The company's fifty day simple moving average is $511.45 and its two-hundred day simple moving average is $517.72. The company has a market cap of $77.48 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 3.42 and a beta of 1.12. Synopsys has a 1-year low of $457.52 and a 1-year high of $629.38.

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.