OFI Invest Asset Management Buys Shares of 6,754 Synopsys, Inc. (NASDAQ:SNPS)

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

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Kieckhefer Group LLC acquired a new stake in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the fourth quarter valued at $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys during the fourth quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys in the fourth quarter valued at about $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 valued at $55,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut 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. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. 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 report on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Finally, Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $638.58.

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Synopsys Price Performance

Shares of Synopsys stock traded down $21.03 during trading on Monday, hitting $429.85. 1,711,372 shares of the company were exchanged, compared to its average volume of 1,200,940. The firm has a market capitalization of $66.46 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $427.30 and a 1-year high of $624.80. The firm's fifty day moving average price is $500.07 and its 200 day moving average price is $510.83.

Insider Transactions at Synopsys

In related news, 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 value of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

About Synopsys

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.