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

Shares of Synopsys, Inc. (NASDAQ:SNPS) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $639.58.

A number of brokerages have weighed in on SNPS. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Wells Fargo & Company reduced their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors raised its holdings in Synopsys by 13.2% during the third quarter. Arkadios Wealth Advisors now owns 912 shares of the semiconductor company’s stock worth $462,000 after purchasing an additional 106 shares during the last quarter. abrdn plc raised its stake in shares of Synopsys by 8.2% during the 3rd quarter. abrdn plc now owns 77,099 shares of the semiconductor company’s stock worth $39,130,000 after buying an additional 5,850 shares during the last quarter. Integrated Advisors Network LLC boosted its position in shares of Synopsys by 243.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,726 shares of the semiconductor company’s stock worth $874,000 after buying an additional 1,223 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of Synopsys by 4.9% in the 3rd quarter. Strategic Blueprint LLC now owns 687 shares of the semiconductor company’s stock worth $348,000 after buying an additional 32 shares in the last quarter. Finally, WD Rutherford LLC grew its stake in Synopsys by 47.7% in the 3rd quarter. WD Rutherford LLC now owns 1,647 shares of the semiconductor company’s stock valued at $834,000 after acquiring an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $470.46 on Thursday. The company has a market capitalization of $72.72 billion, a P/E ratio of 32.40, a PEG ratio of 3.23 and a beta of 1.12. Synopsys has a fifty-two week low of $457.00 and a fifty-two week high of $624.80. The stock has a 50-day simple moving average of $507.61 and a 200-day simple moving average of $516.56.

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.