Brokerages Set Synopsys, Inc. (NASDAQ:SNPS) Target Price at $649.82

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $644.36.

A number of research firms have issued reports on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler cut their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company started coverage on shares of Synopsys in a report on Friday. They issued an “equal weight” rating and a $570.00 target price for the company.

Institutional Investors Weigh In On Synopsys

Large investors have recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. purchased a new position in Synopsys in the 3rd quarter valued at approximately $25,000. Tsfg LLC grew its stake in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 1.3 %

Shares of NASDAQ:SNPS opened at $565.07 on Tuesday. Synopsys has a twelve month low of $457.52 and a twelve month high of $629.38. The stock’s 50 day moving average is $520.78 and its 200-day moving average is $545.66. The firm has a market capitalization of $86.80 billion, a price-to-earnings ratio of 58.62, a PEG ratio of 3.40 and a beta of 1.08.

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