Rep. Byron Donalds Sells Synopsys, Inc. (NASDAQ:SNPS) Shares

Representative Byron Donalds (R-Florida) recently sold shares of Synopsys, Inc. (NASDAQ:SNPS). In a filing disclosed on November 07th, the Representative disclosed that they had sold between $1,001 and $15,000 in Synopsys stock on October 1st. The trade occurred in the Representative’s “MORAN WEALTH IRA” account.

Representative Byron Donalds also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of McKesson (NYSE:MCK) on 10/1/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/1/2024.
• Purchased $1,001 – $15,000 in shares of NU (NYSE:NU) on 10/1/2024.

Synopsys Stock Down 2.1 %

Shares of SNPS stock opened at $561.55 on Friday. The company has a 50 day moving average price of $507.77 and a 200-day moving average price of $544.81. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a market capitalization of $86.26 billion, a PE ratio of 58.25, a P/E/G ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 EPS. Analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC boosted its stake in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new position in Synopsys in the 3rd quarter worth approximately $25,000. Tsfg LLC boosted its stake in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys during the 2nd quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its position 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 buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SNPS. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $643.00.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida’s 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2025. Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida’s 19th Congressional District. He declared candidacy for the Republican primary scheduled on August 20, 2024. Donalds was a potential 2014 Republican candidate seeking election to the U.S. House to represent the 19th Congressional District of Florida. Donalds filed campaign finance reports with the Federal Election Commission but failed to file a statement of candidacy with the FEC or Florida Division of Elections. He was a 2012 Republican candidate who sought election to the U.S. House to represent the 19th Congressional District of Florida. Donalds was defeated by Trey Radel in the Republican primary on August 14, 2012. Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor’s degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

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.