Synopsys (NASDAQ:SNPS) Earns Buy Rating from Analysts at Citigroup

Analysts at Citigroup began coverage on shares of Synopsys (NASDAQ:SNPS) in a research report issued on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $580.00 price target on the semiconductor company’s stock. Citigroup’s price objective would suggest a potential upside of 44.42% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price target on Synopsys from $550.00 to $445.00 and set an “equal weight” rating for the company in a report on Tuesday. Wall Street Zen lowered shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus dropped their price target on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Finally, Mizuho lowered their price objective on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $556.33.

Synopsys Stock Down 0.7%

Shares of NASDAQ SNPS opened at $401.61 on Monday. The company has a market capitalization of $74.60 billion, a P/E ratio of 31.52, a P/E/G ratio of 5.02 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The company has a 50 day simple moving average of $443.58 and a 200-day simple moving average of $509.46. Synopsys has a 1 year low of $365.74 and a 1 year high of $651.73.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($1.45). The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.43 earnings per share. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. On average, equities research analysts predict that Synopsys will post 10.64 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In related news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the sale, the chief accounting officer directly owned 20,520 shares of the company’s stock, valued at $10,278,468. This represents a 32.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert G. Painter purchased 350 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, with a total value of $148,904.00. Following the purchase, the director owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 30,894 shares of company stock worth $16,760,783. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Synopsys

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Synopsys by 20.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,181,185 shares of the semiconductor company’s stock valued at $8,970,415,000 after purchasing an additional 3,120,401 shares in the last quarter. State Street Corp raised its stake in Synopsys by 20.6% in the third quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock valued at $4,322,273,000 after buying an additional 1,493,912 shares in the last quarter. Geode Capital Management LLC raised its stake in Synopsys by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,545,892 shares of the semiconductor company’s stock valued at $1,810,214,000 after buying an additional 51,043 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Synopsys by 238.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,824,349 shares of the semiconductor company’s stock worth $1,393,506,000 after buying an additional 1,990,608 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Synopsys by 29.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,598,874 shares of the semiconductor company’s stock worth $1,333,095,000 after acquiring an additional 585,494 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

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.