Brokerages Set Synopsys, Inc. (NASDAQ:SNPS) Price Target at $639.58

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $638.58.

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $443.26 on Thursday. The business has a fifty day moving average of $505.15 and a 200-day moving average of $514.75. Synopsys has a twelve month low of $442.29 and a twelve month high of $624.80. The firm has a market cap of $68.54 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Insider Buying and Selling at Synopsys

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Kieckhefer Group LLC bought a new position in shares of Synopsys during the fourth quarter worth $27,000. Ameriflex Group Inc. acquired a new stake in Synopsys during the 4th quarter worth $29,000. Whipplewood Advisors LLC bought a new position in Synopsys during the fourth quarter worth about $33,000. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys in the fourth quarter worth about $34,000. Institutional investors and hedge funds 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.