Robert W. Baird Lowers Synopsys (NASDAQ:SNPS) Price Target to $630.00

Synopsys (NASDAQ:SNPS) had its target price dropped by analysts at Robert W. Baird from $644.00 to $630.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price objective suggests a potential upside of 21.79% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Piper Sandler reduced their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price target for the company. Berenberg Bank assumed 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $649.00.

Synopsys Stock Up 0.4 %

Shares of NASDAQ:SNPS opened at $517.28 on Thursday. The company has a market cap of $79.46 billion, a P/E ratio of 35.63, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08. The company’s fifty day moving average is $529.85 and its two-hundred day moving average is $545.47. Synopsys has a 12-month low of $457.52 and a 12-month high of $629.38.

Hedge Funds Weigh In On Synopsys

Institutional investors have recently bought and sold shares of 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 purchasing an additional 36 shares during the period. Pacifica Partners Inc. bought a new position in Synopsys in the 3rd quarter worth $25,000. Tsfg LLC lifted its position in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Chris Bulman Inc bought a new stake in Synopsys during the second quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

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.