KeyCorp Raises Synopsys (NASDAQ:SNPS) Price Target to $153.00

Synopsys (NASDAQ:SNPS) had its price target boosted by KeyCorp from $152.00 to $153.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

SNPS has been the subject of several other research reports. Bank of America reissued an average rating on shares of Synopsys in a research report on Wednesday, June 5th. Needham & Company LLC increased their price objective on shares of Synopsys from $125.00 to $145.00 and gave the stock a buy rating in a research report on Thursday. BidaskClub lowered shares of Synopsys from a buy rating to a hold rating in a research report on Wednesday. Zacks Investment Research lowered shares of Synopsys from a hold rating to a sell rating and set a $143.00 price target for the company. in a report on Wednesday, July 24th. Finally, Wells Fargo & Co initiated coverage on shares of Synopsys in a report on Tuesday, May 14th. They set an outperform rating and a $135.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Synopsys has an average rating of Buy and an average target price of $137.30.

Synopsys stock opened at $135.05 on Thursday. Synopsys has a 52-week low of $79.14 and a 52-week high of $142.00. The firm has a fifty day moving average of $133.42 and a 200-day moving average of $119.60. The firm has a market capitalization of $19.76 billion, a P/E ratio of 47.89, a PEG ratio of 3.96 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.



Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Synopsys had a net margin of 18.94% and a return on equity of 16.79%. The company had revenue of $853.00 million during the quarter, compared to analyst estimates of $831.03 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts expect that Synopsys will post 3.19 EPS for the current fiscal year.

In related news, VP Sudhindra Kankanwadi sold 2,500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $126.20, for a total transaction of $315,500.00. Following the completion of the sale, the vice president now directly owns 10,916 shares of the company’s stock, valued at approximately $1,377,599.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roy Vallee sold 11,243 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $129.21, for a total transaction of $1,452,708.03. Following the sale, the director now directly owns 52,641 shares of the company’s stock, valued at $6,801,743.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,925 shares of company stock valued at $4,471,565. Company insiders own 1.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Keudell Morrison Wealth Management bought a new position in shares of Synopsys in the 2nd quarter worth about $2,448,000. BlackRock Inc. lifted its position in shares of Synopsys by 4.5% in the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock worth $1,658,997,000 after buying an additional 554,602 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of Synopsys in the 2nd quarter worth about $633,000. Cresset Asset Management LLC lifted its position in shares of Synopsys by 334.4% in the 2nd quarter. Cresset Asset Management LLC now owns 3,080 shares of the semiconductor company’s stock worth $396,000 after buying an additional 2,371 shares during the last quarter. Finally, Barings LLC bought a new position in shares of Synopsys in the 2nd quarter worth about $757,000. Hedge funds and other institutional investors own 90.58% of the company’s stock.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.

Further Reading: Green Investing

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.