Mizuho Lowers Synopsys (NASDAQ:SNPS) Price Target to $600.00

Synopsys (NASDAQ:SNPS) had its price target decreased by equities research analysts at Mizuho from $650.00 to $600.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price target indicates a potential upside of 42.19% from the company’s current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $634.42.

Synopsys Stock Performance

Shares of SNPS opened at $421.98 on Tuesday. Synopsys has a 52-week low of $365.74 and a 52-week high of $624.80. The business’s fifty day moving average is $455.38 and its 200-day moving average is $497.37. The firm has a market cap of $65.25 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 3.23 and a beta of 1.23.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synopsys

Several large investors have recently bought and sold shares of SNPS. Accurate Wealth Management LLC boosted its position in shares of Synopsys by 31.5% during the first quarter. Accurate Wealth Management LLC now owns 1,235 shares of the semiconductor company’s stock valued at $520,000 after buying an additional 296 shares during the period. GAMMA Investing LLC boosted its holdings in Synopsys by 26.8% in the first quarter. GAMMA Investing LLC now owns 2,790 shares of the semiconductor company’s stock worth $1,196,000 after acquiring an additional 590 shares in the last quarter. Signet Financial Management LLC increased its position in shares of Synopsys by 1.2% in the first quarter. Signet Financial Management LLC now owns 4,414 shares of the semiconductor company’s stock valued at $1,893,000 after buying an additional 51 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Synopsys by 92.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,260 shares of the semiconductor company’s stock worth $1,398,000 after buying an additional 1,569 shares in the last quarter. Finally, Tounjian Advisory Partners LLC acquired a new position in shares of Synopsys during the 1st quarter worth approximately $547,000. Institutional investors own 85.47% of the company’s stock.

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.