Synopsys, Inc. (NASDAQ:SNPS) Receives Average Rating of “Buy” from Analysts

Posted by on Jun 3rd, 2022

Synopsys, Inc. (NASDAQ:SNPS – Get Rating) has received a consensus rating of “Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $377.45.

A number of research analysts have recently issued reports on SNPS shares. Atlantic Securities cut their price target on Synopsys to $350.00 and set a “na” rating on the stock in a report on Thursday, May 19th. Needham & Company LLC lifted their price target on Synopsys from $370.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, May 19th. UBS Group cut their price target on Synopsys to $360.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Wells Fargo & Company cut their price target on Synopsys from $415.00 to $375.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. Finally, StockNews.com downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 3rd.

Shares of NASDAQ SNPS opened at $330.81 on Friday. The business has a fifty day simple moving average of $302.24 and a two-hundred day simple moving average of $318.41. The firm has a market cap of $50.60 billion, a PE ratio of 51.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.20. Synopsys has a twelve month low of $247.87 and a twelve month high of $377.60.

Synopsys (NASDAQ:SNPS – Get Rating) last issued its earnings results on Wednesday, May 18th. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Synopsys had a return on equity of 18.23% and a net margin of 21.19%. During the same period in the previous year, the company posted $1.24 EPS. On average, equities research analysts anticipate that Synopsys will post 6.29 earnings per share for the current year.

In other Synopsys news, CFO Trac Pham sold 49,072 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $305.00, for a total transaction of $14,966,960.00. Following the sale, the chief financial officer now owns 58,204 shares in the company, valued at approximately $17,752,220. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Joseph W. Logan sold 53,706 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $299.12, for a total value of $16,064,538.72. Following the sale, the executive now owns 99,907 shares in the company, valued at approximately $29,884,181.84. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of SNPS. Bessemer Securities LLC boosted its position in Synopsys by 0.6% during the fourth quarter. Bessemer Securities LLC now owns 5,903 shares of the semiconductor company’s stock worth $2,175,000 after purchasing an additional 34 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Synopsys by 0.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,737 shares of the semiconductor company’s stock worth $2,482,000 after purchasing an additional 35 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Synopsys by 10.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 378 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 36 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Synopsys by 7.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 556 shares of the semiconductor company’s stock worth $205,000 after purchasing an additional 37 shares in the last quarter. Finally, United Asset Strategies Inc. boosted its position in Synopsys by 0.9% during the fourth quarter. United Asset Strategies Inc. now owns 4,224 shares of the semiconductor company’s stock worth $1,557,000 after purchasing an additional 38 shares in the last quarter. 84.71% of the stock is owned by institutional investors and hedge funds.

Synopsys Company Profile (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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.

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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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