Synopsys (NASDAQ:SNPS) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Synopsys (NASDAQ:SNPSGet Rating) from a buy rating to a strong-buy rating in a report released on Friday.

Other equities research analysts also recently issued research reports about the company. Bank of America upped their price objective on Synopsys from $330.00 to $355.00 and gave the company an underperform rating in a report on Monday, January 10th. KeyCorp upped their price objective on Synopsys from $395.00 to $445.00 and gave the stock an overweight rating in a research report on Monday, January 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $385.78.

Shares of NASDAQ:SNPS opened at $294.77 on Friday. Synopsys has a 1-year low of $225.02 and a 1-year high of $377.60. The firm has a market capitalization of $45.13 billion, a PE ratio of 51.00, a PEG ratio of 3.23 and a beta of 1.17. The business’s 50 day moving average is $309.86 and its 200-day moving average is $324.14.

Synopsys (NASDAQ:SNPSGet Rating) last announced its quarterly earnings results on Wednesday, February 16th. The semiconductor company reported $1.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.79 by ($0.01). The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Synopsys had a net margin of 20.18% and a return on equity of 16.74%. Synopsys’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities research analysts anticipate that Synopsys will post 5.63 EPS for the current fiscal year.

In other Synopsys news, CEO Chi-Foon Chan sold 12,570 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $289.25, for a total transaction of $3,635,872.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Joseph W. Logan sold 86,973 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $289.40, for a total value of $25,169,986.20. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of SNPS. Curi Wealth Management LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at $26,000. Confluence Wealth Services Inc. acquired a new stake in shares of Synopsys in the 4th quarter valued at $31,000. CVA Family Office LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at $35,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Synopsys in the 4th quarter valued at $36,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Synopsys in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 84.39% of the company’s stock.

About Synopsys (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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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