Synopsys (NASDAQ:SNPS) Shares Unloaded Rep. Josh Gottheimer

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 Performance

SNPS stock opened at $507.19 on Thursday. The firm has a market capitalization of $78.40 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.41 and a beta of 1.12. The company’s 50 day moving average price is $522.21 and its 200 day moving average price is $527.43. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research analyst reports. Berenberg Bank began 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $641.82.

Institutional Trading of Synopsys

Hedge funds have recently modified their holdings of the business. Parnassus Investments LLC acquired a new position in Synopsys during the third quarter worth $633,469,000. Edgewood Management LLC boosted its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Synopsys by 26.5% during 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. Impax Asset Management Group plc increased its holdings in shares of Synopsys by 120.2% in the 3rd 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 in the last quarter. Finally, Wellington Management Group LLP lifted its stake 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 period. 85.47% of the stock is owned by institutional investors and hedge funds.

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.