The Goldman Sachs Group Issues Pessimistic Forecast for Synopsys (NASDAQ:SNPS) Stock Price

Synopsys (NASDAQ:SNPS) had its price objective dropped by stock analysts at The Goldman Sachs Group from $700.00 to $600.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 36.96% from the company’s previous close.

SNPS has been the subject of a number of other research reports. KeyCorp decreased their price target on Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $535.00 target price (down from $670.00) on shares of Synopsys in a research report on Wednesday. Citigroup downgraded Synopsys from a “neutral” rating to an “underperform” rating in a report on Wednesday. Bank of America restated an “underperform” rating and issued a $525.00 price target (down from $625.00) on shares of Synopsys in a research report on Wednesday. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a research report on Wednesday. Eleven 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. According to data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and an average price target of $585.33.

Synopsys Stock Performance

Shares of SNPS stock opened at $438.10 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 6.85 and a debt-to-equity ratio of 0.52. The company has a market cap of $67.98 billion, a PE ratio of 34.39, a P/E/G ratio of 2.55 and a beta of 1.14. The company’s fifty day simple moving average is $592.81 and its 200-day simple moving average is $506.77. Synopsys has a 52 week low of $365.74 and a 52 week high of $651.73.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive directly owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the transaction, the chief financial officer owned 15,317 shares of the company’s stock, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,031 shares of company stock worth $13,168,999 in the last ninety days. 0.62% of the stock is owned by insiders.

Institutional Trading of Synopsys

Several hedge funds have recently added to or reduced their stakes in SNPS. Lionshead Wealth Management LLC raised its stake in shares of Synopsys by 1.9% in the 2nd quarter. Lionshead Wealth Management LLC now owns 914 shares of the semiconductor company’s stock worth $469,000 after buying an additional 17 shares in the last quarter. YANKCOM Partnership raised its position in Synopsys by 3.3% in the second quarter. YANKCOM Partnership now owns 537 shares of the semiconductor company’s stock worth $275,000 after acquiring an additional 17 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Synopsys by 5.3% in the 2nd quarter. Manchester Capital Management LLC now owns 340 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 17 shares during the last quarter. Hemington Wealth Management boosted its position in shares of Synopsys by 10.1% during the 2nd quarter. Hemington Wealth Management now owns 197 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 18 shares in the last quarter. Finally, Concord Asset Management LLC VA grew its stake in shares of Synopsys by 0.8% in the 2nd quarter. Concord Asset Management LLC VA now owns 2,379 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

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.