Synopsys (NASDAQ:SNPS) Upgraded to Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Synopsys (NASDAQ:SNPS) from a neutral rating to a buy rating in a report published on Tuesday morning, MarketBeat.com reports. Rosenblatt Securities currently has $560.00 price objective on the semiconductor company’s stock, down from their prior price objective of $605.00.

Other research analysts also recently issued research reports about the company. Mizuho decreased their price objective on Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, September 11th. Stifel Nicolaus reduced their price target on Synopsys from $650.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Wells Fargo & Company decreased their price target on Synopsys from $550.00 to $445.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. Wall Street Zen lowered Synopsys from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $550.67.

Synopsys Trading Up 0.0%

Shares of SNPS opened at $465.85 on Tuesday. Synopsys has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The firm has a market cap of $86.53 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 5.34 and a beta of 1.16. The firm has a 50 day moving average price of $436.17 and a 200-day moving average price of $504.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $3.75 by ($1.45). The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Synopsys had a return on equity of 10.82% and a net margin of 31.04%.Synopsys’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.43 EPS. As a group, equities research analysts forecast that Synopsys will post 10.64 earnings per share for the current year.

Insider Activity at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the transaction, the chief accounting officer directly owned 20,520 shares of the company’s stock, valued at approximately $10,278,468. The trade was a 32.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert G. Painter acquired 350 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was bought at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director directly owned 2,291 shares in the company, valued at approximately $974,683.04. This represents a 18.03% increase in their position. The SEC filing for this purchase provides additional information. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Synopsys

A number of hedge funds have recently modified their holdings of the business. Saudi Central Bank bought a new stake in shares of Synopsys during the first quarter valued at approximately $26,000. Alpine Bank Wealth Management lifted its position in Synopsys by 89.3% in the 3rd quarter. Alpine Bank Wealth Management now owns 53 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 25 shares in the last quarter. TFC Financial Management Inc. boosted its stake in Synopsys by 1,250.0% during the 3rd quarter. TFC Financial Management Inc. now owns 54 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Synopsys in the 3rd quarter worth $27,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 53 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.