Synopsys (NASDAQ:SNPS) Given New $590.00 Price Target at Morgan Stanley

Synopsys (NASDAQ:SNPS) had its price objective cut by Morgan Stanley from $625.00 to $590.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on SNPS. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $637.50.

Synopsys Trading Down 1.0 %

SNPS opened at $470.08 on Monday. The stock has a fifty day moving average price of $509.17 and a 200 day moving average price of $517.36. Synopsys has a 1 year low of $457.52 and a 1 year high of $624.80. The stock has a market cap of $72.66 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 3.23 and a beta of 1.12.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of Synopsys

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in shares of Synopsys by 1.4% during the 3rd quarter. Allworth Financial LP now owns 2,297 shares of the semiconductor company’s stock worth $1,163,000 after purchasing an additional 32 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Synopsys by 13.2% in the third quarter. Arkadios Wealth Advisors now owns 912 shares of the semiconductor company’s stock valued at $462,000 after purchasing an additional 106 shares in the last quarter. Boston Trust Walden Corp lifted its position in Synopsys by 4.8% in the third quarter. Boston Trust Walden Corp now owns 2,444 shares of the semiconductor company’s stock worth $1,238,000 after purchasing an additional 111 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Synopsys by 9.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 160,063 shares of the semiconductor company’s stock worth $81,552,000 after buying an additional 13,614 shares in the last quarter. Finally, Cavalier Investments LLC increased its holdings in Synopsys by 5.3% in the 3rd quarter. Cavalier Investments LLC now owns 4,080 shares of the semiconductor company’s stock valued at $2,066,000 after buying an additional 207 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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.