Synopsys (NASDAQ:SNPS) PT Raised to $447.00 at Robert W. Baird

Synopsys (NASDAQ:SNPS – Get Rating) had its target price lifted by Robert W. Baird from $445.00 to $447.00 in a report issued on Thursday, The Fly reports. Robert W. Baird’s price objective would indicate a potential upside of 9.42% from the stock’s current price.

SNPS has been the topic of several other research reports. StockNews.com assumed coverage on Synopsys in a research note on Thursday. They set a “buy” rating on the stock. Wells Fargo & Company increased their price target on Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, February 16th. Needham & Company LLC upped their price objective on shares of Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $420.00 price objective on shares of Synopsys in a research report on Tuesday, February 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price of $434.70.

Synopsys Trading Down 0.3 %

NASDAQ:SNPS opened at $408.50 on Thursday. The firm has a market cap of $62.21 billion, a PE ratio of 68.89, a price-to-earnings-growth ratio of 3.63 and a beta of 1.18. The stock has a fifty day moving average price of $375.54 and a 200 day moving average price of $350.60. Synopsys has a 12-month low of $267.00 and a 12-month high of $418.40.

Synopsys (NASDAQ:SNPS – Get Rating) last posted its earnings results on Wednesday, May 17th. The semiconductor company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.07. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Synopsys had a return on equity of 16.29% and a net margin of 17.41%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Equities analysts forecast that Synopsys will post 7.2 EPS for the current year.

Insider Activity at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $391.43, for a total value of $1,565,720.00. Following the completion of the sale, the chief accounting officer now owns 16,758 shares of the company’s stock, valued at $6,559,583.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Freedom Wealth Alliance LLC bought a new stake in Synopsys in the 4th quarter valued at about $26,000. Ancora Advisors LLC acquired a new position in Synopsys during the 4th quarter worth approximately $30,000. VitalStone Financial LLC acquired a new position in Synopsys during the 1st quarter worth approximately $30,000. HHM Wealth Advisors LLC acquired a new position in shares of Synopsys during the first quarter worth $31,000. Finally, Kistler Tiffany Companies LLC acquired a new stake in Synopsys in the fourth quarter valued at $32,000. Institutional investors own 84.68% of the company’s stock.

Synopsys Company Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.