Rosenblatt Securities Reiterates Buy Rating for Synopsys (NASDAQ:SNPS)

Synopsys (NASDAQ:SNPS)‘s stock had its “buy” rating restated by Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $635.00 target price on the semiconductor company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 23.23% from the stock’s current price.

Several other analysts also recently commented on SNPS. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Wells Fargo & Company assumed coverage on Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $650.50.

Synopsys Stock Down 12.4 %

Shares of NASDAQ SNPS opened at $515.29 on Wednesday. The stock has a market cap of $79.15 billion, a PE ratio of 53.45, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08. Synopsys has a 52-week low of $457.52 and a 52-week high of $629.38. The business has a 50-day moving average price of $529.85 and a 200 day moving average price of $545.47.

Institutional Trading of Synopsys

Several institutional investors and hedge funds have recently modified their holdings of the business. Dantai Capital Ltd raised its holdings in shares of Synopsys by 41.5% in the third quarter. Dantai Capital Ltd now owns 3,098 shares of the semiconductor company’s stock worth $1,569,000 after acquiring an additional 908 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares in the last quarter. Blankinship & Foster LLC acquired a new position in shares of Synopsys in the third quarter valued at approximately $2,772,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Synopsys during the third quarter valued at approximately $865,000. Finally, World Investment Advisors LLC purchased a new stake in Synopsys in the 3rd quarter worth approximately $253,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.