Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $618.31.

SNPS has been the subject of several analyst reports. Mizuho dropped their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th.

Synopsys Trading Down 0.6 %

SNPS opened at $413.32 on Friday. The stock’s fifty day simple moving average is $448.67 and its 200 day simple moving average is $495.67. Synopsys has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a market cap of $63.91 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Institutional Trading of Synopsys

Several institutional investors and hedge funds have recently bought and sold shares of SNPS. Pine Valley Investments Ltd Liability Co lifted its stake in shares of Synopsys by 44.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company’s stock worth $368,000 after buying an additional 225 shares in the last quarter. World Investment Advisors LLC bought a new position in Synopsys in the 3rd quarter valued at approximately $253,000. Wilmington Savings Fund Society FSB purchased a new stake in Synopsys during the 3rd quarter valued at $865,000. Blankinship & Foster LLC purchased a new stake in Synopsys during the 3rd quarter valued at $2,772,000. Finally, Synovus Financial Corp raised its stake in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after purchasing an additional 10,028 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other 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.