OFI Invest Asset Management Makes New $3.17 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

OFI Invest Asset Management purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,754 shares of the semiconductor company’s stock, valued at approximately $3,166,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in Synopsys in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the 4th quarter valued at about $51,000. Finally, Versant Capital Management Inc increased its holdings in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. Morgan Stanley reduced their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Finally, Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

Shares of SNPS stock opened at $450.88 on Friday. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $429.77 and a one year high of $624.80. The company has a 50 day moving average price of $501.21 and a 200 day moving average price of $512.03.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

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.