Analysts Set Synopsys, Inc. (NASDAQ:SNPS) Price Target at $649.00

Synopsys, Inc. (NASDAQ:SNPS) has received an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $649.00.

Several equities research analysts have recently weighed in on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company assumed coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Pacifica Partners Inc. bought a new position in Synopsys during the third quarter worth $25,000. Tsfg LLC lifted its position in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys in the 2nd quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% during 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 last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in Synopsys during the third quarter worth about $44,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.9 %

NASDAQ:SNPS opened at $492.54 on Wednesday. The firm’s fifty day simple moving average is $523.58 and its 200 day simple moving average is $528.92. Synopsys has a twelve month low of $457.52 and a twelve month high of $629.38. The firm has a market capitalization of $76.14 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 3.41 and a beta of 1.12.

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.