Synopsys (NASDAQ:SNPS) had its price objective hoisted by equities research analysts at KeyCorp from $135.00 to $152.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would suggest a potential upside of 10.62% from the stock’s previous close.
SNPS has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Synopsys in a research report on Wednesday, April 3rd. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Wells Fargo & Co started coverage on Semtech in a research report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price target for the company. DA Davidson boosted their price objective on Synopsys to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada boosted their price objective on Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $125.89.
SNPS stock opened at $137.41 on Friday. The firm’s 50-day moving average price is $125.93. Synopsys has a 12-month low of $79.14 and a 12-month high of $137.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.95. The stock has a market capitalization of $20.60 billion, a P/E ratio of 34.70, a PEG ratio of 4.12 and a beta of 1.27.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The firm had revenue of $836.20 million during the quarter, compared to the consensus estimate of $829.41 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts predict that Synopsys will post 3.03 earnings per share for the current fiscal year.
In other Synopsys news, Director Steven Walske sold 2,453 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $126.54, for a total transaction of $310,402.62. Following the transaction, the director now owns 14,038 shares in the company, valued at $1,776,368.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Chi-Foon Chan sold 5,105 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $117.15, for a total value of $598,050.75. Following the completion of the transaction, the chief executive officer now owns 204,117 shares in the company, valued at approximately $23,912,306.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,180 shares of company stock worth $24,653,559. 1.84% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC lifted its stake in shares of Synopsys by 78.7% in the first quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Tompkins Financial Corp lifted its stake in shares of Synopsys by 63.7% in the first quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 109 shares in the last quarter. Executive Wealth Management LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $29,000. Hanseatic Management Services Inc. acquired a new position in shares of Synopsys in the first quarter worth about $30,000. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Synopsys by 16,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 850 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 845 shares in the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.
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