Synopsys (NASDAQ:SNPS) PT Set at $575.00 by KeyCorp

Synopsys (NASDAQ:SNPS) has been assigned a $575.00 price objective by research analysts at KeyCorp in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would indicate a potential upside of 14.21% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Bank of America reduced their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $614.86.

Synopsys Price Performance

Shares of SNPS opened at $503.48 on Tuesday. Synopsys has a 12-month low of $365.74 and a 12-month high of $624.80. The stock has a market capitalization of $77.85 billion, a P/E ratio of 34.67, a P/E/G ratio of 3.23 and a beta of 1.16. The firm’s 50 day moving average is $449.95 and its 200-day moving average is $489.07.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Synopsys

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $583,608,000. GAMMA Investing LLC boosted its holdings in Synopsys by 54,286.0% during the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Nuveen LLC acquired a new position in Synopsys during the first quarter worth $341,480,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

About Synopsys

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.