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

Shares of Synopsys, Inc. (NASDAQ:SNPS) have been given an average rating of “Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $143.10.

A number of brokerages have weighed in on SNPS. Needham & Company LLC lifted their price target on shares of Synopsys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group reaffirmed a “positive” rating and set a $150.00 price target (up from $125.00) on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $138.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, DA Davidson lifted their price target on shares of Synopsys to $155.00 and gave the company a “positive” rating in a research report on Thursday, August 22nd.

In other news, Director Roy Vallee sold 11,243 shares of the business’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 transaction, the director now directly owns 52,641 shares of the company’s stock, valued at $6,801,743.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the transaction, the vice president now directly owns 8,663 shares in the company, valued at $1,250,070.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,881 shares of company stock worth $6,932,729. 1.84% of the stock is currently owned by corporate insiders.



Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in shares of Synopsys by 76.9% during the second quarter. Canada Pension Plan Investment Board now owns 293,169 shares of the semiconductor company’s stock worth $37,728,000 after purchasing an additional 127,477 shares in the last quarter. GYL Financial Synergies LLC acquired a new position in shares of Synopsys during the first quarter worth $999,000. Bailard Inc. acquired a new position in shares of Synopsys during the second quarter worth $219,000. Janney Montgomery Scott LLC lifted its position in shares of Synopsys by 6.7% during the first quarter. Janney Montgomery Scott LLC now owns 3,668 shares of the semiconductor company’s stock worth $422,000 after purchasing an additional 229 shares in the last quarter. Finally, TD Asset Management Inc. lifted its position in shares of Synopsys by 65.0% during the first quarter. TD Asset Management Inc. now owns 131,270 shares of the semiconductor company’s stock worth $15,116,000 after purchasing an additional 51,691 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of SNPS traded up $2.75 during mid-day trading on Friday, hitting $137.39. The company had a trading volume of 1,212,739 shares, compared to its average volume of 1,136,784. The business’s 50-day simple moving average is $134.96 and its 200-day simple moving average is $123.37. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. Synopsys has a 1-year low of $79.14 and a 1-year high of $146.66. The stock has a market cap of $20.33 billion, a PE ratio of 48.72, a P/E/G ratio of 3.74 and a beta of 1.23.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $831.03 million. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Synopsys will post 3.15 earnings per share for the current year.

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.

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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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