Synopsys (NASDAQ:SNPS) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Synopsys (NASDAQ:SNPS) from a buy rating to a hold rating in a research report report published on Wednesday, BidAskClub reports.

Several other equities research analysts also recently weighed in on SNPS. DA Davidson increased their price target on Synopsys to $155.00 and gave the stock a positive rating in a research report on Thursday, August 22nd. Needham & Company LLC increased their price target on Synopsys from $125.00 to $145.00 and gave the stock a buy rating in a research report on Thursday, August 22nd. 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. Wells Fargo & Co reaffirmed an outperform rating and set a $160.00 price target (up from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Zacks Investment Research raised Synopsys from a sell rating to a hold rating and set a $142.00 price target on the stock in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $143.10.

SNPS stock traded up $2.75 during midday trading on Wednesday, reaching $137.39. The stock had a trading volume of 1,212,739 shares, compared to its average volume of 1,136,784. 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. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. The firm has a fifty day simple moving average of $134.96 and a two-hundred day simple moving average of $123.37. Synopsys has a 52-week low of $79.14 and a 52-week high of $146.66.



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

In other news, Director Roy Vallee sold 11,243 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was 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 in the company, valued at approximately $6,801,743.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chi-Foon Chan sold 4,578 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $137.14, for a total value of $627,826.92. Following the sale, the chief executive officer now owns 199,539 shares in the company, valued at $27,364,778.46. The disclosure for this sale can be found here. Insiders have sold a total of 51,881 shares of company stock worth $6,932,729 over the last ninety days. 1.84% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Synopsys by 18.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,026 shares of the semiconductor company’s stock valued at $3,735,000 after acquiring an additional 4,472 shares during the period. Keudell Morrison Wealth Management acquired a new stake in shares of Synopsys during the 2nd quarter valued at about $2,448,000. BlackRock Inc. grew its position in shares of Synopsys by 4.5% during the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock valued at $1,658,997,000 after acquiring an additional 554,602 shares during the period. Transamerica Financial Advisors Inc. acquired a new stake in shares of Synopsys during the 2nd quarter valued at about $633,000. Finally, Cresset Asset Management LLC grew its position in shares of Synopsys by 334.4% during the 2nd quarter. Cresset Asset Management LLC now owns 3,080 shares of the semiconductor company’s stock valued at $396,000 after acquiring an additional 2,371 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.

Synopsys Company Profile

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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