Synopsys (NASDAQ:SNPS) Price Target Lowered to $520.00 at Wells Fargo & Company

Synopsys (NASDAQ:SNPS) had its target price trimmed by Wells Fargo & Company from $540.00 to $520.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on SNPS. Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Finally, Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Down 3.3 %

SNPS opened at $454.71 on Thursday. Synopsys has a 52-week low of $454.05 and a 52-week high of $624.80. The firm’s 50-day moving average price is $506.84 and its 200-day moving average price is $516.13. The company has a market cap of $70.29 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional Trading of Synopsys

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. increased its position in shares of Synopsys by 35.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 2,557 shares of the semiconductor company’s stock worth $1,241,000 after purchasing an additional 665 shares during the last quarter. ABLE Financial Group LLC increased its position in shares of Synopsys by 21.6% during the 4th quarter. ABLE Financial Group LLC now owns 3,232 shares of the semiconductor company’s stock worth $1,569,000 after purchasing an additional 575 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Synopsys by 44.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,250 shares of the semiconductor company’s stock worth $607,000 after purchasing an additional 387 shares during the last quarter. Armis Advisers LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $390,000. Finally, Great Valley Advisor Group Inc. increased its position in shares of Synopsys by 8.9% during the 4th quarter. Great Valley Advisor Group Inc. now owns 9,620 shares of the semiconductor company’s stock worth $4,669,000 after purchasing an additional 783 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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.