Synopsys (NASDAQ:SNPS) Now Covered by Redburn Atlantic

Research analysts at Redburn Atlantic assumed coverage on shares of Synopsys (NASDAQ:SNPS) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $600.00 price target on the semiconductor company’s stock. Redburn Atlantic’s price target indicates a potential upside of 21.82% from the stock’s current price.

SNPS has been the topic of a number of other reports. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Wells Fargo & Company began coverage on Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Finally, Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $644.55.

Synopsys Price Performance

SNPS stock opened at $492.54 on Monday. The company has a market cap of $76.14 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. 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 $523.58 and its 200-day moving average price is $528.92.

Institutional Trading of Synopsys

A number of large investors have recently modified their holdings of SNPS. Davidson Capital Management Inc. lifted its holdings in Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after buying an additional 4,736 shares during the period. Peloton Wealth Strategists lifted its holdings in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares during the period. Swiss National Bank lifted its holdings in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares during the period. Parnassus Investments LLC purchased a new stake in Synopsys during the third quarter worth $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its holdings in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.