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 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 completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Synopsys Stock Up 2.1 %

NASDAQ:SNPS opened at $526.70 on Friday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The company has a fifty day moving average of $519.43 and a 200-day moving average of $526.69. The firm has a market capitalization of $81.42 billion, a P/E ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12.

Institutional Investors Weigh In On Synopsys

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacifica Partners Inc. bought a new position in shares of Synopsys during the 3rd quarter worth about $25,000. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter worth approximately $27,000. Tsfg LLC grew its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in shares of Synopsys during the second quarter worth approximately $51,000. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Loop Capital began 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. Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho began 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 research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average 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.