Synopsys’ (SNPS) “Buy” Rating Reaffirmed at Rosenblatt Securities

Synopsys (NASDAQ:SNPS)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They presently have a $635.00 target price on the semiconductor company’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 23.23% from the stock’s current price.

Several other research firms have also issued reports on SNPS. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Finally, Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $650.50.

Synopsys Trading Down 12.4 %

Shares of SNPS opened at $515.29 on Wednesday. The stock’s fifty day simple moving average is $529.85 and its 200 day simple moving average is $545.47. Synopsys has a twelve month low of $457.52 and a twelve month high of $629.38. The firm has a market capitalization of $79.15 billion, a P/E ratio of 53.45, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08.

Hedge Funds Weigh In On Synopsys

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

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.