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

Synopsys, Inc. (NASDAQ:SNPS) has been assigned an average rating of “Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $145.64.

SNPS has been the topic of several recent research reports. Wells Fargo & Co reiterated an “outperform” rating and issued a $160.00 price target (up previously from $150.00) on shares of Synopsys in a report on Thursday, August 22nd. BidaskClub upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC set a $145.00 target price on Synopsys and gave the stock a “buy” rating in a report on Monday, September 30th. Credit Suisse Group restated a “positive” rating and set a $150.00 target price (up previously from $125.00) on shares of Synopsys in a report on Thursday, August 22nd. Finally, Bank of America initiated coverage on Synopsys in a report on Monday, September 23rd. They set a “buy” rating and a $171.00 target price on the stock.

Synopsys stock traded up $0.13 during mid-day trading on Wednesday, hitting $138.91. 15,085 shares of the company were exchanged, compared to its average volume of 1,108,029. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $136.73 and a 200 day moving average of $126.86. Synopsys has a 1-year low of $79.14 and a 1-year high of $146.66. The company has a market capitalization of $20.44 billion, a PE ratio of 49.27, a price-to-earnings-growth ratio of 3.60 and a beta of 1.21.

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

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $137.47, for a total transaction of $1,374,700.00. Following the transaction, the general counsel now owns 16,848 shares of the company’s stock, valued at approximately $2,316,094.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total value of $1,155,987.30. Following the transaction, the vice president now directly owns 8,663 shares in the company, valued at approximately $1,250,070.90. The disclosure for this sale can be found here. In the last three months, insiders sold 22,589 shares of company stock worth $3,158,514. 1.84% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board increased 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 valued at $37,728,000 after acquiring an additional 127,477 shares during the last quarter. Invesco Ltd. boosted its stake in Synopsys by 33.9% in the second quarter. Invesco Ltd. now owns 3,505,038 shares of the semiconductor company’s stock valued at $451,061,000 after acquiring an additional 888,033 shares in the last quarter. GYL Financial Synergies LLC acquired a new stake in Synopsys in the first quarter valued at approximately $999,000. Bailard Inc. acquired a new stake in Synopsys in the second quarter valued at approximately $219,000. Finally, Advisor Group Inc. boosted its stake in Synopsys by 16.3% in the first quarter. Advisor Group Inc. now owns 13,345 shares of the semiconductor company’s stock valued at $1,537,000 after acquiring an additional 1,875 shares in the last quarter. 89.28% of the stock is currently 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 (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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