Synopsys’ (SNPS) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Synopsys (NASDAQ:SNPSFree Report) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $672.00 target price on the semiconductor company’s stock, up from their previous target price of $665.00.

Several other brokerages have also recently weighed in on SNPS. Needham & Company LLC reiterated a buy rating and issued a $660.00 price objective on shares of Synopsys in a research note on Thursday. StockNews.com upgraded shares of Synopsys from a hold rating to a buy rating in a research note on Monday, March 18th. Rosenblatt Securities restated a buy rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday. Finally, Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an outperform rating in a research note on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $616.18.

View Our Latest Stock Report on Synopsys

Synopsys Stock Up 0.2 %

Shares of NASDAQ:SNPS opened at $587.40 on Thursday. The firm’s 50 day moving average price is $558.67 and its 200-day moving average price is $547.28. Synopsys has a twelve month low of $409.83 and a twelve month high of $629.38. The stock has a market capitalization of $89.58 billion, a PE ratio of 63.85, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.76 EPS. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts expect that Synopsys will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Synopsys news, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC boosted its stake in Synopsys by 1.6% during the third quarter. Private Advisor Group LLC now owns 4,166 shares of the semiconductor company’s stock worth $1,912,000 after buying an additional 66 shares during the period. Corient Private Wealth LLC boosted its stake in Synopsys by 2.4% during the third quarter. Corient Private Wealth LLC now owns 88,888 shares of the semiconductor company’s stock worth $40,798,000 after buying an additional 2,083 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Synopsys by 11.7% during the third quarter. EverSource Wealth Advisors LLC now owns 487 shares of the semiconductor company’s stock worth $224,000 after buying an additional 51 shares during the period. Syon Capital LLC purchased a new position in Synopsys during the third quarter worth $510,000. Finally, NBC Securities Inc. purchased a new position in Synopsys during the third quarter worth $828,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

About Synopsys

(Get Free Report)

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.

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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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