Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) was the target of a significant increase in short interest during 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 trading volume, of 1,070,000 shares, the short-interest ratio is presently 3.3 days.
Shares of SNPS traded down $5.76 during midday trading on Friday, hitting $522.53. 943,680 shares of the stock traded hands, compared to its average volume of 1,012,953. Synopsys has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market capitalization of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The business's 50 day moving average price is $510.78 and its two-hundred day moving average price is $518.06.
A number of equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Piper Sandler decreased their price objective on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective for the company. Finally, Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $641.82.
Check Out Our Latest Research Report on SNPS
In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.66% of the company's stock.
Several institutional investors have recently bought and sold shares of the stock. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC acquired a new stake in Synopsys during the 4th quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the 4th quarter worth about $34,000. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after buying an additional 20 shares during the period. Finally, Sierra Ocean LLC purchased a new position in Synopsys during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 85.47% of the company's stock.
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.
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