Synopsys, Inc. (NASDAQ:SNPS) Receives $616.18 Consensus Price Target from Analysts

Shares of Synopsys, Inc. (NASDAQ:SNPSGet Free Report) have been given a consensus recommendation of “Buy” by the ten analysts that are covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $616.18.

Several analysts have recently commented on SNPS shares. JPMorgan Chase & Co. increased their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird increased their price objective on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th.

Check Out Our Latest Stock Analysis on SNPS

Synopsys Stock Down 2.7 %

Synopsys stock opened at $564.73 on Tuesday. The business has a fifty day moving average of $558.33 and a two-hundred day moving average of $548.97. The firm has a market cap of $86.53 billion, a P/E ratio of 61.38, a P/E/G ratio of 3.75 and a beta of 1.07. Synopsys has a twelve month low of $416.87 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPSGet Free Report) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Equities analysts expect that Synopsys will post 9.78 earnings per share for the current year.

Insider Activity at Synopsys

In related news, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 22,352 shares of company stock valued at $12,996,801 in the last ninety days. 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 added to or reduced their stakes in SNPS. Gotham Asset Management LLC grew its position in shares of Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after acquiring an additional 2,227 shares during the period. abrdn plc grew its position in shares of Synopsys by 56.9% during the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after acquiring an additional 30,581 shares during the period. Simplicity Solutions LLC grew its position in shares of Synopsys by 55.5% during the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after acquiring an additional 1,539 shares during the period. Comerica Bank acquired a new stake in shares of Synopsys during the 3rd quarter valued at about $14,203,000. Finally, DNB Asset Management AS lifted its stake in Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after buying an additional 8,259 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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