Headlands Technologies LLC Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Headlands Technologies LLC increased its stake in Synopsys, Inc. by 60.3%, owning over 5,000 shares valued at approximately $2.18 million as of the latest SEC filing.
• Insider sales have occurred recently, with CRO Richard S. Mahoney and CFO Shelagh Glaser selling significant portions of their shares, indicating reduced confidence among some executives.
• Synopsys reported $3.67 EPS for the last quarter, surpassing estimates, while also achieving a 10.3% year-over-year revenue growth to $1.60 billion.

Headlands Technologies LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 60.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,076 shares of the semiconductor company's stock after buying an additional 1,909 shares during the quarter. Headlands Technologies LLC's holdings in Synopsys were worth $2,177,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNPS. Brighton Jones LLC raised its position in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Synopsys during the 4th quarter worth approximately $1,678,000. Winslow Capital Management LLC increased its holdings in shares of Synopsys by 9.6% during the 4th quarter. Winslow Capital Management LLC now owns 644,812 shares of the semiconductor company's stock valued at $312,966,000 after purchasing an additional 56,247 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of Synopsys during the 4th quarter valued at approximately $2,368,000. Finally, Evexia Wealth LLC purchased a new position in shares of Synopsys during the 4th quarter valued at approximately $440,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock valued at $13,001,048 in the last 90 days. 0.62% of the stock is owned by insiders.

Synopsys Price Performance

Synopsys stock opened at $625.88 on Thursday. The company's fifty day moving average price is $537.99 and its 200 day moving average price is $493.82. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The stock has a market capitalization of $97.11 billion, a P/E ratio of 45.19, a P/E/G ratio of 4.16 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the company posted $3.00 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNPS. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. KeyCorp lifted their target price on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, Rosenblatt Securities lifted their target price on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $622.33.

Synopsys Company 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.

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