Analysts Set Synopsys, Inc. (NASDAQ:SNPS) Target Price at $649.00

Shares of Synopsys, Inc. (NASDAQ:SNPS) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $649.00.

A number of analysts have recently commented on SNPS shares. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its stake in 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. Green Alpha Advisors LLC boosted its holdings in shares of Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the period. Aptus Capital Advisors LLC grew its position in shares of Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC raised its stake in shares of Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock opened at $492.54 on Wednesday. Synopsys has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market capitalization of $76.14 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. The stock has a fifty day moving average of $523.58 and a 200-day moving average of $529.90.

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.