Synopsys (NASDAQ:SNPS) Given New $635.00 Price Target at Rosenblatt Securities

Synopsys (NASDAQ:SNPS) had its price target boosted by Rosenblatt Securities from $615.00 to $635.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

SNPS has been the subject of a number of other reports. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Robert W. Baird boosted their target price on shares of Synopsys from $645.00 to $661.00 and gave the company an outperform rating in a research note on Tuesday, July 2nd. Needham & Company LLC restated a buy rating and issued a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Finally, Piper Sandler boosted their price objective on Synopsys from $672.00 to $687.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $629.00.

Synopsys Stock Up 0.1 %

SNPS opened at $549.00 on Thursday. The firm’s 50 day moving average is $573.99 and its 200-day moving average is $566.28. The firm has a market capitalization of $84.12 billion, a P/E ratio of 59.67, a P/E/G ratio of 3.42 and a beta of 1.07. 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 analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.76 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Synopsys will post 9.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Geus Aart De sold 27,753 shares of Synopsys stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,363 shares of company stock worth $49,361,263. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC raised its stake in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in Synopsys during the first quarter valued at approximately $26,000. Chris Bulman Inc acquired a new stake in Synopsys in the second quarter valued at approximately $30,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys in the fourth quarter worth approximately $28,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds 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.