Synopsys, Inc. (NASDAQ:SNPS) Receives Consensus Rating of “Buy” from Analysts

Synopsys, Inc. (NASDAQ:SNPSGet Free Report) has been assigned an average rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $616.18.

A number of equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd.

Read Our Latest Report on SNPS

Synopsys Trading Down 0.3 %

Shares of NASDAQ:SNPS opened at $598.52 on Friday. Synopsys has a twelve month low of $416.87 and a twelve month high of $629.38. The company has a market cap of $91.71 billion, a PE ratio of 64.84, a price-to-earnings-growth ratio of 3.87 and a beta of 1.08. The company’s 50 day moving average is $565.29 and its 200 day moving average is $555.62.

Synopsys (NASDAQ:SNPSGet Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts predict that Synopsys will post 9.66 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 1,239 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.90, for a total value of $722,213.10. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,658,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,500 shares of company stock valued at $16,054,895. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synopsys

Institutional investors have recently bought and sold shares of the company. Bay Harbor Wealth Management LLC acquired a new position in Synopsys in the first quarter valued at about $26,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys in the 4th quarter valued at $28,000. Jones Financial Companies Lllp raised its holdings in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the period. Activest Wealth Management purchased a new position in Synopsys during the 1st quarter valued at about $35,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

About Synopsys

(Get Free Report

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.

Further Reading

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.