Rep. Josh Gottheimer Sells Off Shares of Synopsys, Inc. (NASDAQ:SNPS)

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Synopsys, Inc. NASDAQ: SNPS. In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Synopsys stock on December 9th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Block NYSE: SQ on 12/30/2024.
• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 12/30/2024.
• Sold $1,001 - $15,000 in shares of Ambev NYSE: ABEV on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Grupo Financiero Banorte OTCMKTS: GBOOY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Cadre NYSE: CDRE on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Coloplast A/S OTCMKTS: CLPBY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Intuitive Surgical NASDAQ: ISRG on 12/23/2024.
• Sold $1,001 - $15,000 in shares of Trane Technologies NYSE: TT on 12/23/2024.
• Purchased $1,001 - $15,000 in shares of Walmart NYSE: WMT on 12/20/2024.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 12/19/2024.

Synopsys Stock Up 1.7 %

Shares of SNPS traded up $8.62 during mid-day trading on Thursday, hitting $515.81. 1,160,011 shares of the company's stock traded hands, compared to its average volume of 1,025,191. The firm has a market capitalization of $79.73 billion, a P/E ratio of 35.52, a PEG ratio of 3.22 and a beta of 1.12. The business's 50-day moving average price is $521.29 and its 200-day moving average price is $527.29. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company's stock.

Hedge Funds Weigh In On Synopsys

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Pacifica Partners Inc. purchased a new position in shares of Synopsys in the third quarter worth $25,000. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at $27,000. Tsfg LLC increased its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Synopsys in the 3rd quarter worth about $44,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNPS. Wells Fargo & Company reduced their price objective on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a research report on Monday. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 target price for the company. Redburn Atlantic began coverage on Synopsys in a research report on Monday. They set a "buy" rating and a $600.00 price target on the stock. Finally, Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $641.82.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.