Synopsys (NASDAQ:SNPS) Now Covered by Analysts at Mizuho

Mizuho began coverage on shares of Synopsys (NASDAQ:SNPS) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $650.00 price target on the semiconductor company’s stock.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. boosted 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. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Finally, Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $644.55.

Synopsys Stock Performance

SNPS opened at $502.41 on Tuesday. Synopsys has a 1 year low of $448.91 and a 1 year high of $629.38. The firm has a 50 day moving average price of $511.19 and a 200 day moving average price of $546.60. The company has a market cap of $77.18 billion, a PE ratio of 52.12, a price-to-earnings-growth ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Synopsys will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Synopsys

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kingsview Wealth Management LLC acquired a new stake in Synopsys in the first quarter worth $239,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Synopsys in the 1st quarter worth about $218,000. Jacobs & Co. CA acquired a new stake in shares of Synopsys in the 3rd quarter worth about $10,554,000. Vontobel Holding Ltd. lifted its position in Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after purchasing an additional 43,228 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after purchasing an additional 1,249 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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.