StockNews.com Begins Coverage on Synopsys (NASDAQ:SNPS)

StockNews.com initiated coverage on shares of Synopsys (NASDAQ:SNPS – Get Rating) in a report issued on Thursday morning. The brokerage issued a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also weighed in on SNPS. KeyCorp boosted their price objective on shares of Synopsys from $455.00 to $467.00 and gave the company an overweight rating in a report on Thursday, December 1st. Wells Fargo & Company boosted their price objective on shares of Synopsys from $400.00 to $410.00 and gave the company an overweight rating in a report on Thursday, February 16th. Needham & Company LLC boosted their price objective on shares of Synopsys from $420.00 to $450.00 and gave the company a buy rating in a report on Thursday, February 16th. Bank of America raised shares of Synopsys from a neutral rating to a buy rating and set a $410.00 price objective on the stock in a report on Friday, December 16th. Finally, Rosenblatt Securities reissued a buy rating and set a $420.00 price objective on shares of Synopsys in a report on Tuesday, February 14th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $424.18.

Synopsys Trading Down 0.4 %

NASDAQ SNPS opened at $372.53 on Thursday. The firm’s fifty day simple moving average is $356.08 and its two-hundred day simple moving average is $329.77. Synopsys has a 12-month low of $255.02 and a 12-month high of $391.17. The firm has a market capitalization of $56.74 billion, a P/E ratio of 61.47, a P/E/G ratio of 3.32 and a beta of 1.18.

Synopsys (NASDAQ:SNPS – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Synopsys will post 7.2 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the transaction, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the transaction, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John F. Runkel, Jr. sold 3,464 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the completion of the transaction, the insider now owns 25,112 shares of the company’s stock, valued at approximately $8,887,387.92. The disclosure for this sale can be found here. Insiders sold 65,736 shares of company stock worth $21,590,891 over the last three months. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Synopsys by 20.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,455 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 242 shares during the period. Capital Asset Advisory Services LLC raised its position in shares of Synopsys by 50.0% during the 4th quarter. Capital Asset Advisory Services LLC now owns 1,684 shares of the semiconductor company’s stock worth $541,000 after purchasing an additional 561 shares during the last quarter. North Star Asset Management Inc. raised its position in shares of Synopsys by 2.2% during the 4th quarter. North Star Asset Management Inc. now owns 60,102 shares of the semiconductor company’s stock worth $19,190,000 after purchasing an additional 1,269 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Synopsys by 15.9% during the 4th quarter. Voya Investment Management LLC now owns 124,086 shares of the semiconductor company’s stock worth $39,619,000 after purchasing an additional 17,022 shares during the last quarter. Finally, Gallagher Benefit Services Inc. acquired a new position in shares of Synopsys during the 4th quarter worth about $259,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

About Synopsys

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.