Synopsys (NASDAQ:SNPS) Shares Gap Down on Analyst Downgrade

Synopsys, Inc. (NASDAQ:SNPS) shares gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $644.00 to $630.00. The stock had previously closed at $588.00, but opened at $544.52. Robert W. Baird currently has an outperform rating on the stock. Synopsys shares last traded at $532.97, with a volume of 766,237 shares traded.

A number of other research firms have also issued reports on SNPS. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $650.50.

Institutional Investors Weigh In On Synopsys

Large investors have recently modified their holdings of the company. ORG Partners LLC lifted its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Synopsys during the 3rd quarter worth about $25,000. Tsfg LLC lifted its stake in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new stake in Synopsys during the second quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

The stock’s 50-day moving average is $529.85 and its 200 day moving average is $545.47. The stock has a market capitalization of $79.15 billion, a PE ratio of 53.45, a P/E/G ratio of 3.48 and a beta of 1.08.

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.