Synopsys, Inc. (NASDAQ:SNPS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Synopsys, Inc. (NASDAQ:SNPS) has earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $649.00.

Several equities research analysts have commented on SNPS shares. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. JPMorgan Chase & Co. upped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Wells Fargo & Company began coverage on Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 target price for the company. Finally, Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock.

Synopsys Stock Down 0.7 %

NASDAQ:SNPS opened at $508.28 on Friday. Synopsys has a 12-month low of $457.52 and a 12-month high of $629.38. The stock’s fifty day simple moving average is $530.80 and its 200-day simple moving average is $543.13. The firm has a market capitalization of $78.08 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.43 and a beta of 1.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC lifted its holdings in Synopsys by 600.0% during the 2nd 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 last quarter. Chris Bulman Inc bought a new position in shares of Synopsys in the second quarter valued at about $30,000. Pacifica Partners Inc. acquired a new stake in shares of Synopsys during the 3rd quarter worth about $25,000. Tsfg LLC boosted its holdings in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Synopsys in the 2nd quarter valued at about $40,000. Institutional investors own 85.47% of the company’s stock.

About Synopsys

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.