Redburn Atlantic Initiates Coverage on Synopsys (NASDAQ:SNPS)

Redburn Atlantic began coverage on shares of Synopsys (NASDAQ:SNPS) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $600.00 price objective on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Piper Sandler decreased their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Down 1.0 %

SNPS stock opened at $487.43 on Monday. Synopsys has a twelve month low of $457.52 and a twelve month high of $629.38. The company has a market cap of $75.35 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. The business’s 50-day simple moving average is $522.84 and its 200 day simple moving average is $528.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $140,000. Pallas Capital Advisors LLC bought a new position in Synopsys in the 4th quarter worth approximately $7,158,000. Sunflower Bank N.A. raised its position in Synopsys by 16.2% in the 4th quarter. Sunflower Bank N.A. now owns 580 shares of the semiconductor company’s stock worth $282,000 after purchasing an additional 81 shares during the last quarter. Eastern Bank raised its position in Synopsys by 2.4% in the 4th quarter. Eastern Bank now owns 2,455 shares of the semiconductor company’s stock worth $1,192,000 after purchasing an additional 57 shares during the last quarter. Finally, Cooper Financial Group raised its position in Synopsys by 9.5% in the 4th quarter. Cooper Financial Group now owns 1,586 shares of the semiconductor company’s stock worth $770,000 after purchasing an additional 138 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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.