Rosenblatt Securities Reaffirms Buy Rating for Synopsys (NASDAQ:SNPS)

Rosenblatt Securities reiterated their buy rating on shares of Synopsys (NASDAQ:SNPSFree Report) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $615.00 target price on the semiconductor company’s stock.

SNPS has been the topic of several other research reports. Wells Fargo & Company increased their price objective on Synopsys from $620.00 to $630.00 and gave the stock an overweight rating in a research report on Wednesday, December 13th. Needham & Company LLC reiterated a buy rating and issued a $660.00 price objective on shares of Synopsys in a research note on Thursday, February 22nd. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an outperform rating in a report on Thursday, February 22nd. KeyCorp raised their target price on shares of Synopsys from $540.00 to $600.00 and gave the stock an overweight rating in a report on Monday, November 27th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $550.00 price target on shares of Synopsys in a research report on Monday, November 27th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $594.60.

Check Out Our Latest Research Report on SNPS

Synopsys Stock Down 1.3 %

Shares of Synopsys stock opened at $594.20 on Thursday. The stock has a market cap of $90.64 billion, a P/E ratio of 65.44, a P/E/G ratio of 3.39 and a beta of 1.07. Synopsys has a 12-month low of $360.36 and a 12-month high of $629.38. The business’s 50 day moving average is $556.82 and its 200-day moving average is $519.64.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. On average, sell-side analysts expect that Synopsys will post 10.13 EPS for the current year.

Insider Transactions at Synopsys

In related news, insider John F. Runkel, Jr. sold 2,508 shares of Synopsys stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total value of $1,269,499.44. Following the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at $13,555,500.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John F. Runkel, Jr. sold 2,508 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total transaction of $1,269,499.44. Following the completion of the sale, the insider now directly owns 26,780 shares in the company, valued at approximately $13,555,500.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,586 shares of company stock valued at $19,868,728. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Synopsys

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Synopsys during the fourth quarter worth $28,000. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys during the 3rd quarter valued at $27,000. OFI Invest Asset Management bought a new stake in Synopsys during the 3rd quarter worth $26,000. Jones Financial Companies Lllp increased its holdings in Synopsys by 233.3% in 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 in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Synopsys in the third quarter valued at about $29,000. 84.12% of the stock is owned by institutional investors.

About Synopsys

(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)

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