Synopsys (NASDAQ:SNPS) Price Target Cut to $350.00

Synopsys (NASDAQ:SNPSGet Rating) had its price target cut by investment analysts at Atlantic Securities to $350.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “na” rating on the semiconductor company’s stock. Atlantic Securities’ target price suggests a potential upside of 14.84% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC raised their target price on Synopsys from $370.00 to $380.00 and gave the company a “buy” rating in a report on Thursday. UBS Group dropped their target price on Synopsys to $360.00 and set a “hold” rating on the stock in a report on Thursday. StockNews.com downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 3rd. Finally, Wells Fargo & Company dropped their target price on Synopsys from $415.00 to $375.00 and set an “overweight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of “Buy” and a consensus price target of $377.45.

Synopsys stock traded up $32.21 during trading on Thursday, hitting $304.78. The company’s stock had a trading volume of 63,494 shares, compared to its average volume of 913,972. The stock has a market capitalization of $46.66 billion, a price-to-earnings ratio of 52.96, a P/E/G ratio of 3.00 and a beta of 1.21. The stock’s fifty day moving average is $301.38 and its 200 day moving average is $320.48. Synopsys has a 1-year low of $229.04 and a 1-year high of $377.60.

Synopsys (NASDAQ:SNPSGet Rating) last released its earnings results on Wednesday, May 18th. The semiconductor company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.37 by $0.13. Synopsys had a return on equity of 16.74% and a net margin of 20.18%. During the same period last year, the company earned $1.24 earnings per share. Equities research analysts forecast that Synopsys will post 5.63 EPS for the current fiscal year.

In related news, CRO Joseph W. Logan sold 86,973 shares of Synopsys 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chi-Foon Chan sold 12,570 shares of Synopsys stock in a transaction on Friday, February 18th. The shares were sold at an average price of $289.25, for a total value of $3,635,872.50. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its stake in shares of Synopsys by 54.3% in the 4th quarter. ProShare Advisors LLC now owns 295,306 shares of the semiconductor company’s stock valued at $108,821,000 after purchasing an additional 103,979 shares during the period. Jackson Square Capital LLC grew its position in Synopsys by 153.6% during the 4th quarter. Jackson Square Capital LLC now owns 4,369 shares of the semiconductor company’s stock worth $1,610,000 after acquiring an additional 2,646 shares during the last quarter. Lbmc Investment Advisors LLC boosted its position in Synopsys by 912.4% in the 3rd quarter. Lbmc Investment Advisors LLC now owns 15,712 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 14,160 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its stake in shares of Synopsys by 52.1% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 44,064 shares of the semiconductor company’s stock valued at $16,238,000 after purchasing an additional 15,085 shares during the period. Finally, SG Americas Securities LLC raised its stake in Synopsys by 22.9% during the 4th quarter. SG Americas Securities LLC now owns 10,942 shares of the semiconductor company’s stock worth $4,032,000 after buying an additional 2,036 shares during the period. 84.71% of the stock is owned by institutional investors and hedge funds.

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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