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

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

Several other large investors also recently modified their holdings of SNPS. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the fourth quarter worth approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc boosted its stake 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 during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNPS. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Trading Up 1.2 %

Synopsys stock opened at $450.88 on Friday. The company’s 50-day moving average price is $501.21 and its two-hundred day moving average price is $512.03. The stock has a market cap of $69.72 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $429.77 and a 52 week high of $624.80.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

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.