Synopsys, Inc. (NASDAQ:SNPS) Receives $601.00 Average PT from Brokerages

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $601.00.

A number of research analysts recently issued reports on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Piper Sandler began coverage on Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Finally, Robert W. Baird raised their price target on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 in the last ninety days. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Synopsys in the third quarter valued at $26,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Synopsys in the 1st quarter worth about $26,000. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the fourth quarter worth about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Synopsys in the third quarter worth about $29,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $536.94 on Friday. The company has a market capitalization of $81.88 billion, a PE ratio of 59.13, a P/E/G ratio of 3.14 and a beta of 1.07. The firm’s 50-day moving average is $560.86 and its 200 day moving average is $538.00. Synopsys has a 12 month low of $365.46 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Sell-side analysts forecast that Synopsys will post 9.78 EPS for the current fiscal year.

Synopsys Company Profile

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.