Synopsys, Inc. (NASDAQ:SNPS) Receives $630.09 Consensus Target Price from Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has received an average rating of “Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $630.09.

Several research analysts have recently commented on SNPS shares. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. KeyCorp lifted their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock valued at $44,616,637 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its holdings in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after buying an additional 18 shares in the last quarter. Andina Capital Management LLC raised its holdings in shares of Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC raised its holdings in shares of Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after buying an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after buying an additional 20 shares in the last quarter. Finally, Ignite Planners LLC raised its holdings in shares of Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Up 0.0 %

NASDAQ:SNPS opened at $464.16 on Thursday. Synopsys has a twelve month low of $440.62 and a twelve month high of $629.38. The stock’s 50 day moving average price is $547.30 and its two-hundred day moving average price is $561.82. The firm has a market capitalization of $71.30 billion, a price-to-earnings ratio of 50.45, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the company posted $2.17 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts anticipate that Synopsys will post 9.45 earnings per share for the current year.

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.