Synopsys’ (SNPS) Outperform Rating Reiterated at Wells Fargo & Co

Share on StockTwits

Wells Fargo & Co reaffirmed their outperform rating on shares of Synopsys (NASDAQ:SNPS) in a research note released on Thursday, BenzingaRatingsTable reports. The firm currently has a $160.00 price objective on the semiconductor company’s stock, up from their previous price objective of $150.00.

Several other analysts have also recently weighed in on SNPS. KeyCorp boosted their price objective on Synopsys from $152.00 to $153.00 and gave the stock an overweight rating in a report on Thursday. Zacks Investment Research cut Synopsys from a hold rating to a sell rating and set a $143.00 price objective for the company. in a report on Wednesday, July 24th. Bank of America reissued an average rating on shares of Synopsys in a report on Wednesday, June 5th. Needham & Company LLC boosted their price objective on Synopsys from $125.00 to $145.00 and gave the stock a buy rating in a report on Thursday. Finally, BidaskClub cut Synopsys from a buy rating to a hold rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $137.30.

Shares of NASDAQ SNPS opened at $135.05 on Thursday. The firm’s 50-day simple moving average is $133.42 and its 200 day simple moving average is $119.60. The company has a market cap of $19.76 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 3.96 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. Synopsys has a 12-month low of $79.14 and a 12-month high of $142.00.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $831.03 million. Synopsys had a return on equity of 16.79% and a net margin of 18.94%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. On average, equities analysts expect that Synopsys will post 3.19 earnings per share for the current year.

In other news, Director Roy Vallee sold 15,596 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $128.95, for a total value of $2,011,104.20. Following the completion of the sale, the director now directly owns 52,641 shares of the company’s stock, valued at approximately $6,788,056.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven Walske sold 2,453 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $126.54, for a total value of $310,402.62. Following the completion of the sale, the director now directly owns 14,038 shares of the company’s stock, valued at $1,776,368.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,925 shares of company stock valued at $4,471,565. 1.84% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in SNPS. Steward Partners Investment Advisory LLC increased its stake in Synopsys by 2.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,668 shares of the semiconductor company’s stock worth $472,000 after purchasing an additional 78 shares in the last quarter. Greenleaf Trust increased its stake in Synopsys by 1.9% during the 2nd quarter. Greenleaf Trust now owns 4,355 shares of the semiconductor company’s stock worth $560,000 after purchasing an additional 80 shares in the last quarter. Securian Asset Management Inc increased its stake in Synopsys by 0.6% during the 1st quarter. Securian Asset Management Inc now owns 15,405 shares of the semiconductor company’s stock worth $1,774,000 after purchasing an additional 97 shares in the last quarter. Wakefield Asset Management LLLP increased its stake in Synopsys by 1.1% during the 1st quarter. Wakefield Asset Management LLLP now owns 11,049 shares of the semiconductor company’s stock worth $1,272,000 after purchasing an additional 119 shares in the last quarter. Finally, Sigma Investment Counselors Inc. increased its stake in Synopsys by 0.3% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 43,199 shares of the semiconductor company’s stock worth $5,559,000 after purchasing an additional 127 shares in the last quarter. 90.58% of the stock is owned by institutional investors.

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.

Read More: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Brokerages Set SharpSpring Inc  Price Target at $17.33
Brokerages Set SharpSpring Inc Price Target at $17.33
Tufin Software Technologies Ltd  Given Average Recommendation of “Buy” by Analysts
Tufin Software Technologies Ltd Given Average Recommendation of “Buy” by Analysts
Sealchain Reaches 24 Hour Volume of $1.98 Million
Sealchain Reaches 24 Hour Volume of $1.98 Million
AtriCure Inc.  Given Average Rating of “Buy” by Brokerages
AtriCure Inc. Given Average Rating of “Buy” by Brokerages
Cryptonex 24-Hour Volume Tops $3.12 Million
Cryptonex 24-Hour Volume Tops $3.12 Million
Aegeus  Price Hits $0.0015 on Top Exchanges
Aegeus Price Hits $0.0015 on Top Exchanges


 
© 2006-2019 Zolmax.