Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Rating of “Buy” by Analysts
Synopsys, Inc. (NASDAQ:SNPS – Get Free Report) has received a consensus rating of “Buy” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $575.60.
Several analysts have recently weighed in on SNPS shares. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $470.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Wells Fargo & Company increased their price target on shares of Synopsys from $600.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, November 30th. Robert W. Baird raised their price objective on shares of Synopsys from $491.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. KeyCorp raised their price objective on shares of Synopsys from $540.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $550.00 target price on shares of Synopsys in a research report on Monday, November 27th.
Check Out Our Latest Stock Report on Synopsys
Synopsys Price Performance
Shares of Synopsys stock opened at $531.20 on Tuesday. Synopsys has a one year low of $312.25 and a one year high of $564.78. The stock’s 50-day moving average is $496.18 and its 200 day moving average is $461.62. The firm has a market cap of $80.80 billion, a price-to-earnings ratio of 66.90, a PEG ratio of 3.63 and a beta of 1.10.
Synopsys (NASDAQ:SNPS – Get Free Report) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.13. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Synopsys had a return on equity of 20.85% and a net margin of 21.05%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share. On average, sell-side analysts expect that Synopsys will post 8.81 EPS for the current fiscal year.
Insider Activity at Synopsys
In other news, insider John F. Runkel, Jr. sold 2,507 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $455.00, for a total value of $1,140,685.00. Following the completion of the transaction, the insider now directly owns 24,732 shares of the company’s stock, valued at approximately $11,253,060. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Sudhindra Kankanwadi sold 7,355 shares of Synopsys stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $491.53, for a total value of $3,615,203.15. Following the completion of the transaction, the chief accounting officer now directly owns 17,029 shares in the company, valued at $8,370,264.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 2,507 shares of Synopsys stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $455.00, for a total value of $1,140,685.00. Following the sale, the insider now owns 24,732 shares in the company, valued at approximately $11,253,060. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Synopsys
A number of institutional investors and hedge funds have recently bought and sold shares of SNPS. Venturi Wealth Management LLC acquired a new stake in shares of Synopsys during the third quarter valued at about $27,000. OFI Invest Asset Management purchased a new position in Synopsys during the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at $29,000. Altshuler Shaham Ltd acquired a new position in Synopsys during the 2nd quarter worth $28,000. Finally, Freedom Wealth Alliance LLC acquired a new position in shares of Synopsys during the fourth quarter valued at about $26,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.
About Synopsys (Get Free Report
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
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Original: MarketBeat News Feed: Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Rating of “Buy” by Analysts