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

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $638.00.

SNPS has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd.

Insider Activity

In other news, insider Geus Aart De sold 27,753 shares of the company’s 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 directly owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 27,753 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The disclosure for this sale can be found here. Insiders have sold 55,424 shares of company stock valued at $33,625,711 in the last ninety days. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

A number of large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its position in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys during the fourth quarter worth about $28,000. Chris Bulman Inc acquired a new stake in Synopsys during the second quarter worth about $30,000. Jones Financial Companies Lllp increased its position in Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 0.4 %

Synopsys stock opened at $513.31 on Monday. The firm has a 50 day simple moving average of $518.53 and a 200 day simple moving average of $554.36. Synopsys has a 1-year low of $445.07 and a 1-year high of $629.38. The firm has a market capitalization of $78.85 billion, a price-to-earnings ratio of 55.79, a P/E/G ratio of 3.34 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $2.17 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys will post 9.45 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.