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

Shares of Synopsys, Inc. (NASDAQ:SNPS) have been assigned an average rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $629.00.

Several equities research analysts have weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. KeyCorp increased their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Robert W. Baird boosted their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Finally, Piper Sandler increased their price objective on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 27,753 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the sale, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the sale, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 over the last 90 days. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of Synopsys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Blueprint LLC grew its position in shares of Synopsys by 5.4% in the fourth quarter. Strategic Blueprint LLC now owns 607 shares of the semiconductor company’s stock valued at $313,000 after purchasing an additional 31 shares during the period. International Assets Investment Management LLC grew its position in shares of Synopsys by 52,466.9% in the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after purchasing an additional 175,764 shares during the period. RFG Advisory LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $217,000. Cerity Partners LLC grew its position in shares of Synopsys by 127.7% in the fourth quarter. Cerity Partners LLC now owns 7,758 shares of the semiconductor company’s stock valued at $3,995,000 after purchasing an additional 4,351 shares during the period. Finally, Sapient Capital LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $286,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 3.3 %

Shares of NASDAQ:SNPS opened at $548.28 on Friday. The company has a market capitalization of $84.01 billion, a PE ratio of 59.60, a P/E/G ratio of 3.39 and a beta of 1.07. Synopsys has a 12-month low of $418.51 and a 12-month high of $629.38. The business’s fifty day simple moving average is $574.44 and its 200-day simple moving average is $566.05.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 EPS. Research analysts predict that Synopsys will post 9.66 EPS for the current 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.