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

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $649.00.

A number of research firms have issued reports on SNPS. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Wells Fargo & Company began coverage on Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price objective for the company. Finally, Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th.

Synopsys Price Performance

SNPS stock opened at $494.43 on Friday. The company has a market cap of $75.95 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. Synopsys has a 1 year low of $457.52 and a 1 year high of $629.38. The stock’s fifty day moving average price is $530.72 and its 200-day moving average price is $541.02.

Institutional Trading of Synopsys

Several institutional investors have recently made changes to their positions in the business. Davidson Capital Management Inc. grew its holdings in Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after buying an additional 4,736 shares in the last quarter. Peloton Wealth Strategists grew its stake in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Swiss National Bank increased its holdings in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Parnassus Investments LLC purchased a new stake in Synopsys in the 3rd quarter worth $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares during the last quarter. Hedge funds and other 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.