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 Synopsys stock opened at $515.81 on Friday. The stock has a market capitalization of $79.73 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. The company has a 50-day simple moving average of $521.29 and a 200 day simple moving average of $527.29. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $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 available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parnassus Investments LLC bought a new position in Synopsys in the third quarter valued at approximately $633,469,000. Edgewood Management LLC raised its holdings in shares of Synopsys by 18.9% in the third 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 raised its holdings in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. One equities 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, Synopsys has an average rating of “Moderate Buy” and an average target price 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.