Analysts’ Weekly Ratings Changes for Synopsys (SNPS)

A number of firms have modified their ratings and price targets on shares of Synopsys (NASDAQ: SNPS) recently:

• 4/4/2024 – Synopsys is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $665.00 price target on the stock.
• 3/22/2024 – Synopsys had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $660.00 price target on the stock.
• 3/21/2024 – Synopsys had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $615.00 price target on the stock.
• 3/18/2024 – Synopsys was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/10/2024 – Synopsys was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/2/2024 – Synopsys was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 2/23/2024 – Synopsys was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 2/22/2024 – Synopsys had its price target raised by analysts at Robert W. Baird from $624.00 to $640.00. They now have an “outperform” rating on the stock.
• 2/22/2024 – Synopsys had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $660.00 price target on the stock.
• 2/20/2024 – Synopsys had its price target raised by analysts at Rosenblatt Securities from $570.00 to $615.00. They now have a “buy” rating on the stock.

Synopsys Trading Up 1.5 %

SNPS stock opened at $575.45 on Monday. The stock has a market cap of $87.76 billion, a P/E ratio of 63.38, a P/E/G ratio of 3.27 and a beta of 1.06. The stock’s fifty day simple moving average is $567.49 and its two-hundred day simple moving average is $528.20. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, analysts forecast that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last quarter. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

A number of hedge funds have recently modified their holdings of SNPS. Vanguard Group Inc. grew its holdings in shares of Synopsys by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after acquiring an additional 203,601 shares during the period. Capital World Investors increased its stake in Synopsys by 0.5% during the 4th quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock valued at $3,373,384,000 after purchasing an additional 32,430 shares in the last quarter. State Street Corp raised its holdings in Synopsys by 2.6% in the first quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock worth $2,510,213,000 after buying an additional 166,992 shares during the last quarter. FMR LLC lifted its stake in shares of Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after buying an additional 330,206 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Synopsys by 1.6% during the first quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after acquiring an additional 52,624 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.