Stifel Nicolaus Issues Pessimistic Forecast for Synopsys (NASDAQ:SNPS) Stock Price

Synopsys (NASDAQ:SNPS) had its target price cut by stock analysts at Stifel Nicolaus from $650.00 to $550.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 25.54% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Bank of America reissued an “underperform” rating and set a $525.00 price objective (down previously from $625.00) on shares of Synopsys in a research note on Wednesday. KeyCorp raised their price target on Synopsys from $610.00 to $660.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Wells Fargo & Company reissued a “positive” rating on shares of Synopsys in a report on Wednesday, August 27th. Needham & Company LLC cut their price target on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Robert W. Baird restated a “neutral” rating and set a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $585.33.

Synopsys Stock Performance

NASDAQ SNPS opened at $438.10 on Wednesday. The company’s 50 day simple moving average is $592.81 and its two-hundred day simple moving average is $506.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 6.85. Synopsys has a 1 year low of $365.74 and a 1 year high of $651.73. The stock has a market capitalization of $67.98 billion, a PE ratio of 34.39, a P/E/G ratio of 2.55 and a beta of 1.14.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares of the company’s stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the transaction, the chief financial officer directly owned 15,317 shares in the company, valued at approximately $9,339,847.09. This represents a 19.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,031 shares of company stock worth $13,168,999. 0.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synopsys

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after acquiring an additional 50 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Synopsys by 35.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 2,557 shares of the semiconductor company’s stock worth $1,241,000 after buying an additional 665 shares during the last quarter. Obermeyer Wealth Partners increased its stake in shares of Synopsys by 3.6% during the fourth quarter. Obermeyer Wealth Partners now owns 890 shares of the semiconductor company’s stock valued at $432,000 after buying an additional 31 shares during the period. Nuveen Asset Management LLC boosted its holdings in Synopsys by 12.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company’s stock valued at $820,987,000 after acquiring an additional 182,115 shares in the last quarter. Finally, NorthRock Partners LLC bought a new position in Synopsys in the 4th quarter worth $640,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Company Profile

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.