Synopsys, Inc. (NASDAQ:SNPS) Receives $627.18 Average Target Price from Analysts

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $627.18.

A number of analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler boosted their target price on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Geus Aart De sold 5,448 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The disclosure for this sale can be found here. Insiders sold a total of 81,363 shares of company stock worth $49,361,263 in the last three months. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SNPS. Norges Bank bought a new position in shares of Synopsys in the fourth quarter worth $1,272,143,000. Swedbank AB bought a new position in shares of Synopsys in the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC grew its stake in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Finally, Capital World Investors boosted its stake in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.5 %

Shares of NASDAQ:SNPS opened at $563.12 on Wednesday. The company has a fifty day simple moving average of $589.52 and a 200 day simple moving average of $563.86. The firm has a market cap of $86.28 billion, a PE ratio of 61.21, a price-to-earnings-growth ratio of 3.63 and a beta of 1.07. Synopsys has a 12-month low of $418.51 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate 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 firm posted $1.76 EPS. As a group, equities research analysts forecast that Synopsys will post 9.66 EPS for the current fiscal year.

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.