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

Synopsys, Inc. (NASDAQ:SNPS) CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available through this link.

Synopsys Stock Performance

Shares of SNPS opened at $515.81 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company’s fifty day moving average is $521.29 and its 200 day moving average is $527.29. The stock has a market capitalization of $79.73 billion, a PE ratio of 35.52, a P/E/G ratio of 3.22 and a beta of 1.12.

Institutional Trading of Synopsys

Large investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC raised its position in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the period. Edgewood Management LLC lifted its stake in shares of 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 purchasing an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the period. Finally, Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $633,469,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SNPS. Wells Fargo & Company lowered their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.