Optimize Financial Inc Buys 535 Shares of Synopsys, Inc. $SNPS

Key Points

• Optimize Financial Inc increased its stake in Synopsys, Inc. by 14.6%, purchasing an additional 535 shares and now holds a total of 4,211 shares, valued at approximately $1.8 million.
• Analysts have a consensus rating of Moderate Buy for Synopsys, with twelve analysts recommending a buy and a price target projection averaging $638.21.
• The stock price of Synopsys recently opened at $609.08, having a 52-week range from $365.74 to $651.73, indicating strong performance in the semiconductor sector.

Optimize Financial Inc lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,211 shares of the semiconductor company's stock after buying an additional 535 shares during the period. Synopsys comprises about 0.7% of Optimize Financial Inc's holdings, making the stock its 15th largest position. Optimize Financial Inc's holdings in Synopsys were worth $1,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SNPS. Ameriflex Group Inc. bought a new position in shares of Synopsys during the fourth quarter valued at about $29,000. Cornerstone Planning Group LLC increased its stake in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares during the last quarter. Saudi Central Bank bought a new position in shares of Synopsys during the 1st quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after buying an additional 53 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Synopsys in the 1st quarter worth approximately $34,000. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 1.8%

SNPS stock opened at $609.08 on Tuesday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The firm has a market capitalization of $94.50 billion, a PE ratio of 43.98, a PEG ratio of 3.93 and a beta of 1.14. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a 50-day simple moving average of $596.04 and a two-hundred day simple moving average of $507.14.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SNPS shares. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Wells Fargo & Company restated a "positive" rating on shares of Synopsys in a report on Wednesday, August 27th. Rosenblatt Securities lifted their price target on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Morgan Stanley reiterated an "overweight" rating and issued a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Finally, KeyCorp raised their target price on Synopsys from $610.00 to $660.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $638.21.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the sale, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by 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.

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