Synopsys (NASDAQ:SNPS) Price Target Cut to $653.00 by Analysts at Piper Sandler

Synopsys (NASDAQ:SNPS) had its target price decreased by research analysts at Piper Sandler from $655.00 to $653.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Piper Sandler’s target price points to a potential upside of 42.80% from the company’s current price.

SNPS has been the topic of several other research reports. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 0.6 %

Shares of SNPS stock opened at $457.28 on Thursday. Synopsys has a 12-month low of $448.11 and a 12-month high of $624.80. The firm’s 50 day moving average is $506.14 and its 200 day moving average is $515.69. The stock has a market capitalization of $70.69 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Synopsys

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kieckhefer Group LLC bought a new stake in Synopsys in the 4th quarter valued at $27,000. Ameriflex Group Inc. bought a new stake in Synopsys in the 4th quarter valued at $29,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the 4th quarter valued at $33,000. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys in the 4th quarter valued at $34,000. 85.47% of the stock is currently owned by 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.