Synopsys, Inc. (NASDAQ:SNPS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $613.43.

Several research analysts have commented on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler decreased their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th.

Synopsys Trading Up 4.7%

Shares of NASDAQ SNPS opened at $505.59 on Tuesday. Synopsys has a 12 month low of $365.74 and a 12 month high of $624.80. The firm has a market capitalization of $78.17 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a fifty day simple moving average of $438.34 and a two-hundred day simple moving average of $489.05.

Insider Buying and Selling at Synopsys

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

Institutional Trading of Synopsys

A number of institutional investors have recently made changes to their positions in SNPS. Norges Bank purchased a new position in shares of Synopsys in the fourth quarter worth approximately $583,608,000. GAMMA Investing LLC boosted its holdings in shares of Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after buying an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after buying an additional 1,045,326 shares during the last quarter. Nuveen LLC purchased a new position in shares of Synopsys in the first quarter worth approximately $341,480,000. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Synopsys by 38.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Hedge funds and other 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.