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 Trading Up 3.4 %

NASDAQ:SNPS opened at $507.19 on Thursday. The stock has a 50 day moving average of $522.21 and a 200-day moving average of $527.43. The firm has a market capitalization of $78.40 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Institutional Investors Weigh In On Synopsys

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Pacifica Partners Inc. acquired a new position in shares of Synopsys during the 3rd quarter valued at $25,000. Kieckhefer Group LLC acquired a new position in Synopsys during the fourth quarter worth about $27,000. Tsfg LLC raised its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in shares of Synopsys during the 2nd quarter valued at about $51,000. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Robert W. Baird lowered their price target 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. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.