Synopsys’ (SNPS) “Hold (C)” Rating Reaffirmed at Weiss Ratings

Synopsys (NASDAQ:SNPS)‘s stock had its “hold (c)” rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

SNPS has been the subject of a number of other reports. Citigroup lowered Synopsys from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. cut their price target on Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Wall Street Zen lowered Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $605.00 price target (down from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Finally, BNP Paribas initiated coverage on Synopsys in a report on Thursday, October 2nd. They set an “underperform” rating and a $425.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Synopsys has an average rating of “Hold” and a consensus target price of $575.31.

Synopsys Stock Up 2.4%

Shares of Synopsys stock opened at $489.36 on Wednesday. The stock has a market capitalization of $90.90 billion, a P/E ratio of 38.41, a PEG ratio of 5.26 and a beta of 1.10. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $550.58 and a two-hundred day moving average price of $510.06. Synopsys has a 12-month low of $365.74 and a 12-month high of $651.73.

Insider Transactions at Synopsys

In related news, CFO Shelagh Glaser sold 3,655 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the transaction, the chief accounting officer owned 20,520 shares of the company’s stock, valued at $10,278,468. The trade was a 32.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,894 shares of company stock valued at $16,760,783. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNPS. Cornerstone Planning Group LLC raised its stake in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. Saudi Central Bank acquired a new position in Synopsys during the first quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 53 shares in the last quarter. Independence Bank of Kentucky raised its stake in Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 30 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its stake in Synopsys by 481.8% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 53 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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.