Synopsys (NASDAQ:SNPS) Price Target Cut to $550.00 by Analysts at Stifel Nicolaus

Synopsys (NASDAQ:SNPS) had its price target decreased by Stifel Nicolaus from $650.00 to $550.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the stock. Citigroup downgraded shares of Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Robert W. Baird restated a “neutral” rating and issued a $535.00 target price (down from $670.00) on shares of Synopsys in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $715.00 target price (up from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Finally, KeyCorp lifted their price objective on shares of Synopsys from $610.00 to $660.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $599.00.

Synopsys Price Performance

Shares of SNPS opened at $387.78 on Wednesday. The company has a market cap of $60.17 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. Synopsys has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $594.99 and a two-hundred day moving average of $506.99.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the sale, the chief financial officer directly owned 15,317 shares in the company, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company’s stock, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,031 shares of company stock worth $13,168,999. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Synopsys by 1.6% during the second quarter. Vanguard Group Inc. now owns 15,060,784 shares of the semiconductor company’s stock worth $7,721,363,000 after purchasing an additional 231,014 shares during the last quarter. State Street Corp raised its holdings in shares of Synopsys by 1.2% during the second quarter. State Street Corp now owns 7,266,446 shares of the semiconductor company’s stock worth $3,725,362,000 after purchasing an additional 85,662 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Synopsys by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,545,892 shares of the semiconductor company’s stock worth $1,810,214,000 after purchasing an additional 51,043 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Synopsys by 29.1% during the second quarter. Ameriprise Financial Inc. now owns 2,598,874 shares of the semiconductor company’s stock worth $1,333,095,000 after purchasing an additional 585,494 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Synopsys by 38.3% during 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 purchasing 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.