Analysts Set Synopsys, Inc. (NASDAQ:SNPS) PT at $594.60

Shares of Synopsys, Inc. (NASDAQ:SNPSGet Free Report) have received a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $594.60.

Several research firms recently weighed in on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Thursday, February 22nd. Stifel Nicolaus restated a “buy” rating and issued a $550.00 price target on shares of Synopsys in a research note on Monday, November 27th. KeyCorp boosted their price target on shares of Synopsys from $540.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird boosted their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th.

Get Our Latest Analysis on Synopsys

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 9,065 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total transaction of $4,484,455.50. Following the completion of the transaction, the executive now directly owns 1,617 shares of the company’s stock, valued at approximately $799,929.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Richard S. Mahoney sold 9,065 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total transaction of $4,484,455.50. Following the completion of the transaction, the executive now directly owns 1,617 shares of the company’s stock, valued at approximately $799,929.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,586 shares of company stock valued at $19,868,728. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

A number of hedge funds have recently made changes to their positions in the stock. Cibc World Market Inc. lifted its holdings in Synopsys by 58.8% in the 1st quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock worth $3,964,000 after buying an additional 4,402 shares in the last quarter. Prudential PLC acquired a new position in Synopsys in the 1st quarter worth $993,000. Sequoia Financial Advisors LLC acquired a new position in Synopsys in the 1st quarter worth $240,000. Covestor Ltd lifted its holdings in Synopsys by 18.9% in the 1st quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after buying an additional 43 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Synopsys by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock worth $560,000 after buying an additional 658 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $550.03 on Thursday. The business’s 50-day moving average is $548.19 and its two-hundred day moving average is $515.26. The company has a market capitalization of $83.90 billion, a P/E ratio of 60.58, a P/E/G ratio of 3.16 and a beta of 1.07. Synopsys has a fifty-two week low of $360.36 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPSGet Free Report) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $1.75 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Analysts forecast that Synopsys will post 10.13 EPS for the current year.

Synopsys Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.