Optimize Financial Inc Makes New $1.78 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

Optimize Financial Inc purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,676 shares of the semiconductor company's stock, valued at approximately $1,784,000. Synopsys makes up 1.3% of Optimize Financial Inc's holdings, making the stock its 21st biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after purchasing an additional 120,575 shares in the last quarter. Geode Capital Management LLC lifted its position in Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the period. Pictet Asset Management Holding SA grew its stake in Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company's stock worth $853,631,000 after buying an additional 60,121 shares in the last quarter. Invesco Ltd. grew its stake in Synopsys by 5.2% during the fourth quarter. Invesco Ltd. now owns 1,381,496 shares of the semiconductor company's stock worth $670,523,000 after buying an additional 68,766 shares in the last quarter. Finally, Norges Bank bought a new position in Synopsys in the 4th quarter valued at about $583,608,000. Institutional investors own 85.47% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SNPS shares. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday. KeyCorp reduced their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $623.17.

Synopsys Stock Up 0.9 %

Synopsys stock traded up $3.67 during trading hours on Tuesday, hitting $425.65. The stock had a trading volume of 1,015,147 shares, compared to its average volume of 1,091,800. The stock has a market cap of $65.81 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 3.23 and a beta of 1.23. The business's 50 day simple moving average is $453.23 and its 200-day simple moving average is $496.88. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by 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.