Headlands Technologies LLC Sells 8,328 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Headlands Technologies LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 72.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,167 shares of the semiconductor company's stock after selling 8,328 shares during the quarter. Headlands Technologies LLC's holdings in Synopsys were worth $1,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Rockefeller Capital Management L.P. bought a new stake in Synopsys during the 3rd quarter valued at $11,441,000. Captrust Financial Advisors increased its position in shares of Synopsys by 8.1% during the third quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company's stock worth $2,529,000 after acquiring an additional 374 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Synopsys by 458.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company's stock worth $303,000 after acquiring an additional 491 shares during the last quarter. Hilltop Holdings Inc. bought a new position in Synopsys in the 3rd quarter valued at about $567,000. Finally, Janus Henderson Group PLC lifted its position in Synopsys by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock valued at $577,289,000 after acquiring an additional 81,198 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

Shares of SNPS traded down $29.63 during mid-day trading on Friday, hitting $388.13. The stock had a trading volume of 2,513,019 shares, compared to its average volume of 1,065,266. The firm has a market cap of $60.01 billion, a P/E ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 52 week low of $387.41 and a 52 week high of $624.80. The business has a fifty day moving average price of $473.83 and a 200-day moving average price of $503.09.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Piper Sandler cut their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and an average price target of $638.58.

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.