Synopsys, Inc. (NASDAQ:SNPS) Short Interest Update
Synopsys, Inc. (NASDAQ:SNPS – Get Free Report) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 1,910,000 shares, an increase of 17.9% from the October 31st total of 1,620,000 shares. Based on an average daily trading volume, of 769,000 shares, the short-interest ratio is currently 2.5 days. Currently, 1.3% of the shares of the stock are short sold.
Analysts Set New Price Targets
SNPS has been the topic of a number of research reports. HSBC initiated coverage on shares of Synopsys in a research note on Friday, September 29th. They set a “buy” rating and a $551.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $470.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. Wells Fargo & Company boosted their price objective on shares of Synopsys from $600.00 to $620.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Synopsys from $491.00 to $505.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus price target of $575.60.
Check Out Our Latest Research Report on Synopsys
Synopsys Trading Up 0.5 %
SNPS stock traded up $2.73 during midday trading on Friday, hitting $545.96. The stock had a trading volume of 876,617 shares, compared to its average volume of 816,363. The business has a fifty day moving average price of $494.51 and a two-hundred day moving average price of $459.59. Synopsys has a 1-year low of $312.25 and a 1-year high of $564.78. The firm has a market cap of $83.04 billion, a P/E ratio of 68.76, a price-to-earnings-growth ratio of 3.69 and a beta of 1.10.
Synopsys (NASDAQ:SNPS – Get Free Report) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.13. Synopsys had a net margin of 21.05% and a return on equity of 20.85%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys will post 8.81 EPS for the current year.
Insider Activity
In other news, CAO Sudhindra Kankanwadi sold 7,355 shares of Synopsys stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $491.53, for a total value of $3,615,203.15. Following the completion of the sale, 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 can be accessed through this link. In other Synopsys news, CAO Sudhindra Kankanwadi sold 7,355 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $491.53, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 2,507 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $455.00, for a total transaction of $1,140,685.00. Following the transaction, the insider now owns 24,732 shares of the company’s stock, valued at $11,253,060. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.
Institutional Investors Weigh In On Synopsys
Institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC raised its holdings in shares of Synopsys by 19.5% in the 1st quarter. HighTower Advisors LLC now owns 35,050 shares of the semiconductor company’s stock worth $13,494,000 after acquiring an additional 5,718 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Synopsys by 10.2% in the 1st quarter. Norinchukin Bank The now owns 15,165 shares of the semiconductor company’s stock worth $5,857,000 after acquiring an additional 1,401 shares during the last quarter. Drive Wealth Management LLC acquired a new stake in shares of Synopsys in the 2nd quarter worth about $216,000. Capital International Inc. CA grew its position in Synopsys by 37.4% in the 2nd quarter. Capital International Inc. CA now owns 20,277 shares of the semiconductor company’s stock worth $8,829,000 after purchasing an additional 5,516 shares in the last quarter. Finally, Huntington National Bank grew its position in Synopsys by 4,977.0% in the 2nd quarter. Huntington National Bank now owns 35,285 shares of the semiconductor company’s stock worth $15,363,000 after purchasing an additional 34,590 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
Synopsys Company Profile (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) Short Interest Update