Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Rating of “Moderate Buy” by Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $649.00.

A number of research analysts have recently weighed in on the company. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Piper Sandler dropped their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th.

Institutional Trading of Synopsys

Hedge funds and other institutional investors have recently bought and sold shares of the company. Westwind Capital boosted its holdings in shares of Synopsys by 0.5% during the fourth quarter. Westwind Capital now owns 21,709 shares of the semiconductor company’s stock worth $10,537,000 after purchasing an additional 116 shares during the last quarter. Diversified Trust Co lifted its position in Synopsys by 9.3% during the fourth quarter. Diversified Trust Co now owns 3,275 shares of the semiconductor company’s stock worth $1,590,000 after buying an additional 278 shares during the period. Nordea Investment Management AB boosted its stake in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares during the last quarter. GAMMA Investing LLC boosted its stake in Synopsys by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,200 shares of the semiconductor company’s stock worth $1,068,000 after buying an additional 439 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of SNPS stock opened at $487.62 on Wednesday. The stock has a fifty day moving average price of $525.02 and a 200 day moving average price of $531.02. The stock has a market cap of $75.38 billion, a PE ratio of 33.58, a P/E/G ratio of 3.41 and a beta of 1.12. Synopsys has a 1 year low of $457.52 and a 1 year high of $629.38.

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.