Synopsys, Inc. (NASDAQ:SNPS) Short Interest Up 16.2% in January

Synopsys, Inc. (NASDAQ:SNPS) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,510,000 shares, an increase of 16.2% from the January 15th total of 3,020,000 shares. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research reports. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Finally, Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Transactions at Synopsys

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 stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Synopsys

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the 4th quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys during the 4th quarter worth $34,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at $39,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of Synopsys stock traded down $5.76 during trading on Monday, hitting $522.53. 943,680 shares of the stock were exchanged, compared to its average volume of 1,012,953. The firm’s 50-day moving average price is $510.78 and its 200 day moving average price is $517.72. The stock has a market cap of $80.77 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. Synopsys has a 12-month low of $457.52 and a 12-month high of $629.38.

Synopsys Company Profile

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.