Synopsys, Inc. (NASDAQ:SNPS) Receives $638.00 Average PT from Analysts

Synopsys, Inc. (NASDAQ:SNPS) has received an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $638.00.

A number of research firms have recently commented on SNPS. Piper Sandler reiterated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Finally, KeyCorp upped their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th.

Synopsys Stock Performance

SNPS opened at $496.82 on Monday. The firm has a market cap of $76.32 billion, a P/E ratio of 54.00, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08. The business has a 50 day moving average price of $513.92 and a 200 day moving average price of $553.21. Synopsys has a twelve month low of $448.26 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.17 earnings per share. As a group, analysts anticipate that Synopsys will post 9.45 earnings per share for the current fiscal year.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Geus Aart De sold 27,753 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the sale, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,635 shares of company stock worth $31,921,800. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synopsys

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Synopsys in the 4th quarter valued at $28,000. Chris Bulman Inc acquired a new stake in shares of Synopsys in the 2nd quarter valued at $30,000. Jones Financial Companies Lllp raised its position in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

About Synopsys

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.