Richard S. Mahoney Sells 20,838 Shares of Synopsys, Inc. (NASDAQ:SNPS) Stock

Synopsys, Inc. (NASDAQ:SNPS) CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was 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 of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Synopsys Price Performance

Shares of Synopsys stock opened at $515.81 on Friday. The stock has a market cap of $79.73 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 3.22 and a beta of 1.12. The firm’s 50-day moving average is $521.29 and its two-hundred day moving average is $527.29. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNPS. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday. They set a “buy” rating and a $600.00 target price for the company. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Hedge Funds Weigh In On Synopsys

A number of hedge funds and other institutional investors have recently modified their holdings of SNPS. Crossmark Global Holdings Inc. lifted its holdings in Synopsys by 6.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 9,652 shares of the semiconductor company’s stock worth $4,685,000 after buying an additional 563 shares during the period. Aurora Investment Managers LLC. raised its position in shares of Synopsys by 2.3% in the 4th quarter. Aurora Investment Managers LLC. now owns 1,397 shares of the semiconductor company’s stock worth $678,000 after acquiring an additional 32 shares in the last quarter. Trueblood Wealth Management LLC purchased a new stake in shares of Synopsys during the 4th quarter worth $242,000. Diversify Advisory Services LLC bought a new stake in Synopsys during the fourth quarter valued at about $877,000. Finally, Diversify Wealth Management LLC grew its stake in Synopsys by 221.2% in the fourth quarter. Diversify Wealth Management LLC now owns 2,133 shares of the semiconductor company’s stock valued at $1,051,000 after purchasing an additional 1,469 shares during the last quarter. 85.47% of the stock is currently owned by 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.