Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Richard S. Mahoney, the Chief Revenue Officer of Synopsys Inc . (NASDAQ:SNPS), a $80.47 billion market cap company currently trading at $522.66, recently executed a series of stock transactions, as reported in an SEC filing. On January 15, Mahoney sold a total of 20,838 shares of common stock, generating approximately $10.54 million. The shares were sold at prices ranging from $505.97 to $506.07 per share. According to InvestingPro analysis, the stock is currently trading slightly above its Fair Value.
In addition to the sales, Mahoney acquired 14,495 shares through stock option exercises, with prices ranging from $319.20 to $354.45 per share. These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on September 13, 2024.
Following these transactions, Mahoney now holds 1,460 shares of Synopsys' common stock.
In other recent news, Synopsys has made significant progress in its acquisition of ANSS, with Piper Sandler maintaining an Overweight rating on the company's stock. The acquisition, worth approximately $32 billion, has achieved several regulatory milestones, including phase 1 approvals from the UK Competition and Markets Authority (CMA) and the European Commission (EC). The deal is expected to create a robust engineering software platform with over $10 billion in annualized revenue and more than $3 billion in annualized free cash flow.
Redburn-Atlantic initiated coverage on Synopsys shares with a Buy rating, highlighting tailwinds for the Electronic Design Automation (EDA) market. The company's strong financial position and impressive 81.44% gross profit margin, coupled with its 15.22% revenue growth over the last twelve months, positions it well to capitalize on these opportunities.
The UK's CMA provisionally accepted Synopsys' proposed remedies concerning the acquisition of Ansys (NASDAQ:ANSS). This initial approval marks a significant step towards finalizing the deal, which is expected to close in the first half of 2025. The merger is anticipated to drive innovation across various industries.
EU antitrust regulators are reportedly close to approving the acquisition following Synopsys' commitment to divest two of its business units, the Optical Solutions Group and Ansys PowerArtist, to alleviate competition concerns. These recent developments reflect Synopsys' ongoing efforts to secure the acquisition, which is expected to significantly expand its market presence and financial strength.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.