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

Synopsys, Inc. (NASDAQ:SNPS) has been given a consensus rating of “Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $629.00.

Several analysts recently weighed in on the company. Robert W. Baird lifted their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Piper Sandler boosted their price objective on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th.

Synopsys Price Performance

Shares of Synopsys stock opened at $549.00 on Friday. The business has a fifty day simple moving average of $573.99 and a two-hundred day simple moving average of $566.28. Synopsys has a 1 year low of $418.51 and a 1 year high of $629.38. The company has a market capitalization of $84.12 billion, a price-to-earnings ratio of 59.67, a P/E/G ratio of 3.42 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.76 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Synopsys will post 9.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,393,649.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders sold 81,363 shares of company stock worth $49,361,263 over the last three months. Insiders own 0.66% of the company’s stock.

Institutional Trading of Synopsys

A number of hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. raised its holdings in Synopsys by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after buying an additional 18 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares during the period. Mission Wealth Management LP grew its stake in shares of Synopsys by 2.5% in the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

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.