Wells Fargo & Company Lowers Synopsys (NASDAQ:SNPS) Price Target to $520.00

Synopsys (NASDAQ:SNPS) had its price target lowered by investment analysts at Wells Fargo & Company from $540.00 to $520.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.72% from the company’s current price.

Other research analysts have also recently issued reports about the company. Piper Sandler dropped their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday. Finally, Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Performance

Shares of SNPS opened at $457.28 on Thursday. Synopsys has a 52 week low of $448.11 and a 52 week high of $624.80. The stock has a market capitalization of $70.69 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.12. The stock has a fifty day moving average of $506.14 and a 200-day moving average of $515.69.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Synopsys

A number of large investors have recently bought and sold shares of the business. Advisors Capital Management LLC grew its holdings in Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock worth $408,000 after acquiring an additional 19 shares during the period. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. Caprock Group LLC grew its stake in shares of Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after buying an additional 20 shares during the period. Compagnie Lombard Odier SCmA grew its stake in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares during the period. Finally, Edge Capital Group LLC grew its stake in shares of Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after buying an additional 20 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.