Synopsys, Inc. (NASDAQ:SNPS) Given Average Rating of “Buy” by Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $627.18.

Several research firms have recently commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird upped their price target on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd.

Insiders Place Their Bets

In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total value of $3,197,590.00. Following the sale, the director now directly owns 1,543 shares of the company’s stock, valued at $897,069.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total value of $3,197,590.00. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock valued at $49,361,263 over the last three months. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GYL Financial Synergies LLC grew its stake in shares of Synopsys by 5.0% in the second quarter. GYL Financial Synergies LLC now owns 2,773 shares of the semiconductor company’s stock worth $1,650,000 after purchasing an additional 132 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in Synopsys by 23.0% during the second quarter. Moss Adams Wealth Advisors LLC now owns 449 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 84 shares in the last quarter. MeadowBrook Investment Advisors LLC boosted its stake in Synopsys by 20.1% during the second quarter. MeadowBrook Investment Advisors LLC now owns 753 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 126 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Synopsys during the second quarter valued at about $802,000. Finally, Prossimo Advisors LLC bought a new position in Synopsys during the second quarter valued at about $946,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.1 %

Synopsys stock opened at $588.33 on Wednesday. The stock has a market cap of $90.14 billion, a P/E ratio of 63.95, a price-to-earnings-growth ratio of 3.79 and a beta of 1.07. The stock has a 50 day moving average of $590.70 and a 200-day moving average of $565.27. Synopsys has a 52 week low of $418.51 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 earnings per share. As a group, equities analysts predict that Synopsys will post 9.66 earnings per share for the current fiscal year.

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.