Synopsys (NASDAQ:SNPS) PT Raised to $635.00 at Rosenblatt Securities

Synopsys (NASDAQ:SNPS) had its price target upped by Rosenblatt Securities from $615.00 to $635.00 in a report issued on Thursday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also issued reports on SNPS. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an overweight rating in a report on Thursday, May 23rd. KeyCorp boosted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. Needham & Company LLC reaffirmed a buy rating and set a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler upped their price target on Synopsys from $672.00 to $687.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Finally, Robert W. Baird raised their price objective on Synopsys from $645.00 to $661.00 and gave the stock an outperform rating in a research report on Tuesday, July 2nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $629.00.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $549.00 on Thursday. Synopsys has a one year low of $418.51 and a one year high of $629.38. The company has a market cap of $84.12 billion, a price-to-earnings ratio of 59.67, a PEG ratio of 3.42 and a beta of 1.07. The firm has a 50 day simple moving average of $573.99 and a 200 day simple moving average of $566.51.

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

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 493 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,363 shares of company stock worth $49,361,263. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC boosted its position in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Bay Harbor Wealth Management LLC purchased a new position in shares of Synopsys in the 1st quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Synopsys during the fourth quarter worth about $28,000. Chris Bulman Inc purchased a new position in Synopsys in the second quarter valued at about $30,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.