Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 840 shares of the semiconductor company’s stock after selling 23 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Synopsys were worth $408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys in the fourth quarter worth $51,000. Finally, Versant Capital Management Inc raised its holdings in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 59 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Finally, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $446.23 on Friday. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The business has a 50-day moving average of $495.89 and a 200-day moving average of $508.41. The company has a market capitalization of $69.00 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16.

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.