UBS Group Cuts Synopsys (NASDAQ:SNPS) Price Target to $360.00

Synopsys (NASDAQ:SNPSGet Rating) had its price objective lowered by analysts at UBS Group to $360.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. UBS Group’s price target indicates a potential upside of 18.12% from the stock’s current price.

Several other equities analysts have also commented on SNPS. Needham & Company LLC upped their target price on Synopsys from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company decreased their target price on Synopsys from $415.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus target price of $377.45.

Shares of NASDAQ:SNPS traded up $32.21 on Thursday, hitting $304.78. The company had a trading volume of 63,494 shares, compared to its average volume of 913,972. Synopsys has a 52-week low of $229.04 and a 52-week high of $377.60. The business has a 50 day moving average of $301.38 and a 200 day moving average of $320.48. The company has a market cap of $46.66 billion, a PE ratio of 52.96, a PEG ratio of 3.00 and a beta of 1.21.

Synopsys (NASDAQ:SNPSGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The semiconductor company reported $2.50 earnings per share (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 in the prior year, the company earned $1.24 EPS. On average, research analysts predict that Synopsys will post 5.63 EPS for the current fiscal year.

In other 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 Securities & Exchange Commission, which is available through this link. 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 owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Orion Portfolio Solutions LLC increased its stake in shares of Synopsys by 15.5% in the first quarter. Orion Portfolio Solutions LLC now owns 1,071 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 144 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Synopsys by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 99,117 shares of the semiconductor company’s stock worth $33,033,000 after purchasing an additional 1,148 shares during the period. Sawgrass Asset Management LLC bought a new position in shares of Synopsys in the first quarter worth about $9,772,000. MUFG Securities EMEA plc increased its stake in shares of Synopsys by 1.4% in the first quarter. MUFG Securities EMEA plc now owns 39,032 shares of the semiconductor company’s stock worth $13,008,000 after purchasing an additional 532 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Synopsys by 23.0% in the first quarter. Worldquant Millennium Advisors LLC now owns 150,158 shares of the semiconductor company’s stock worth $50,043,000 after purchasing an additional 28,110 shares during the period. Institutional investors and hedge funds own 84.71% of the company’s stock.

Synopsys Company Profile (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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