Synopsys, Inc. (NASDAQ:SNPS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned an average recommendation of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $643.00.

SNPS has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday. KeyCorp boosted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday. They issued an “outperform” rating and a $650.00 price objective on the stock.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synopsys

Several institutional investors have recently bought and sold shares of SNPS. Andina Capital Management LLC boosted its holdings in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC boosted its holdings in shares of Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares in the last quarter. Monument Capital Management boosted its holdings in shares of Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after buying an additional 20 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after buying an additional 20 shares in the last quarter. Finally, Hilltop National Bank boosted its holdings in shares of Synopsys by 6.0% in the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $495.25 on Friday. The firm has a fifty day moving average price of $510.44 and a two-hundred day moving average price of $546.23. Synopsys has a one year low of $448.91 and a one year high of $629.38. The company has a market cap of $76.08 billion, a price-to-earnings ratio of 51.37, a PEG ratio of 3.44 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for 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%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $2.17 EPS. Equities research analysts expect that Synopsys will post 9.45 EPS for the current fiscal year.

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.