Synopsys, Inc. (NASDAQ:SNPS) Given Average Recommendation of “Moderate Buy” by Brokerages

Synopsys, Inc. (NASDAQ:SNPSGet Rating) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $405.33.

SNPS has been the subject of a number of recent research reports. Bank of America raised shares of Synopsys from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $325.00 to $360.00 in a research report on Wednesday, June 29th. Atlantic Securities reduced their price target on shares of Synopsys to $350.00 and set a “na” rating for the company in a research report on Thursday, May 19th. Wells Fargo & Company raised their price target on shares of Synopsys from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. KeyCorp raised their price target on shares of Synopsys from $445.00 to $455.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. Finally, Needham & Company LLC lifted their target price on shares of Synopsys from $380.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, August 18th.

Synopsys Stock Up 1.9 %

Shares of Synopsys stock opened at $340.18 on Friday. The firm has a market capitalization of $52.02 billion, a P/E ratio of 51.62, a PEG ratio of 3.22 and a beta of 1.23. The company has a 50 day moving average price of $345.78 and a 200 day moving average price of $319.01. Synopsys has a 52 week low of $255.02 and a 52 week high of $391.17.

Synopsys (NASDAQ:SNPSGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.99 by $0.11. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Synopsys had a net margin of 20.86% and a return on equity of 18.29%. Synopsys’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. As a group, research analysts anticipate that Synopsys will post 6.41 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CFO Trac Pham sold 18,393 shares of Synopsys stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total value of $5,647,202.79. Following the sale, the chief financial officer now owns 39,811 shares of the company’s stock, valued at approximately $12,223,171.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Trac Pham sold 18,393 shares of Synopsys stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total value of $5,647,202.79. Following the sale, the chief financial officer now owns 39,811 shares of the company’s stock, valued at approximately $12,223,171.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mercedes Johnson sold 2,000 shares of Synopsys stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $360.00, for a total transaction of $720,000.00. Following the completion of the sale, the director now directly owns 5,346 shares in the company, valued at approximately $1,924,560. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,182 shares of company stock valued at $22,033,688. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synopsys

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Yorktown Management & Research Co Inc acquired a new position in shares of Synopsys during the 1st quarter valued at about $240,000. AIA Group Ltd boosted its position in shares of Synopsys by 39.2% during the 1st quarter. AIA Group Ltd now owns 1,292 shares of the semiconductor company’s stock valued at $431,000 after acquiring an additional 364 shares during the last quarter. LPL Financial LLC boosted its position in shares of Synopsys by 2.7% during the 4th quarter. LPL Financial LLC now owns 27,883 shares of the semiconductor company’s stock valued at $10,275,000 after acquiring an additional 740 shares during the last quarter. Atalanta Sosnoff Capital LLC boosted its position in shares of Synopsys by 6.3% during the 1st quarter. Atalanta Sosnoff Capital LLC now owns 71,297 shares of the semiconductor company’s stock valued at $23,761,000 after acquiring an additional 4,244 shares during the last quarter. Finally, Kentucky Retirement Systems raised its holdings in Synopsys by 6.5% in the 1st quarter. Kentucky Retirement Systems now owns 9,780 shares of the semiconductor company’s stock valued at $3,259,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 84.99% 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.

Further Reading

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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