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

Headlands Technologies LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 72.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,167 shares of the semiconductor company's stock after selling 8,328 shares during the period. Headlands Technologies LLC's holdings in Synopsys were worth $1,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter valued at $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter valued at $39,000. Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Synopsys during the fourth quarter worth $51,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 7.1 %

NASDAQ SNPS traded down $29.63 during mid-day trading on Friday, hitting $388.13. The company's stock had a trading volume of 2,513,019 shares, compared to its average volume of 1,063,784. Synopsys, Inc. has a twelve month low of $384.90 and a twelve month high of $624.80. The firm has a market capitalization of $60.01 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.16. The company's 50 day simple moving average is $476.99 and its 200 day simple moving average is $503.85.

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Analyst Ratings Changes

A number of brokerages have weighed in on SNPS. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $638.58.

Insider Transactions at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last three months. Corporate insiders own 0.62% of the company's stock.

Synopsys 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.