Brokerages Set Synopsys, Inc. (NASDAQ:SNPS) Target Price at $601.00

Synopsys, Inc. (NASDAQ:SNPS) has earned a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $601.00.

SNPS has been the topic of a number of research reports. Robert W. Baird upped their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Wells Fargo & Company increased their price objective on Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd.

Synopsys Trading Down 1.4 %

Shares of NASDAQ:SNPS opened at $561.23 on Monday. Synopsys has a 12-month low of $360.36 and a 12-month high of $629.38. The business’s fifty day simple moving average is $569.29 and its 200-day simple moving average is $530.21. The company has a market capitalization of $85.59 billion, a PE ratio of 61.81, a P/E/G ratio of 3.37 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping 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 company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $1.75 EPS. Synopsys’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts predict that Synopsys will post 9.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on 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 approximately $35,726,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock worth $15,464,992 in the last ninety days. Insiders own 0.66% of the company’s stock.

Institutional Trading of Synopsys

Institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. raised its stake in shares of Synopsys by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 18 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of Synopsys by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 20 shares in the last quarter. Quent Capital LLC raised its stake in shares of Synopsys by 1.9% in the 3rd quarter. Quent Capital LLC now owns 1,138 shares of the semiconductor company’s stock valued at $522,000 after purchasing an additional 21 shares in the last quarter. Finally, Allstate Corp raised its stake in Synopsys by 4.7% during the fourth quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 21 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Company Profile

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.