Synopsys, Inc. (NASDAQ:SNPS) Receives $601.00 Consensus Target Price from Analysts

Synopsys, Inc. (NASDAQ:SNPS) has earned a consensus rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $601.00.

Several equities analysts have commented on the stock. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Robert W. Baird lifted their target price on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd.

Synopsys Stock Down 0.1 %

Shares of Synopsys stock opened at $549.88 on Friday. Synopsys has a 52-week low of $365.46 and a 52-week high of $629.38. The company has a market capitalization of $83.86 billion, a P/E ratio of 60.56, a P/E/G ratio of 3.14 and a beta of 1.07. The company has a 50 day moving average of $558.90 and a 200 day moving average of $539.18.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 EPS. As a group, research analysts anticipate that Synopsys will post 9.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Marc N. Casper purchased 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Synopsys

Several institutional investors and hedge funds have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in Synopsys in the 3rd quarter valued at approximately $26,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Synopsys during the first quarter valued at $26,000. Venturi Wealth Management LLC purchased a new stake in Synopsys during the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Synopsys during the 4th quarter worth about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Synopsys in the 3rd quarter valued at about $29,000. 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.