Brokerages Set Synopsys, Inc. (NASDAQ:SNPS) Target Price at $643.00

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned an average rating of “Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $643.00.

A number of equities analysts recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company.

Synopsys Stock Performance

Shares of Synopsys stock opened at $513.61 on Friday. The firm has a fifty day moving average of $505.38 and a two-hundred day moving average of $544.15. The stock has a market capitalization of $78.90 billion, a price-to-earnings ratio of 53.28, a PEG ratio of 3.77 and a beta of 1.08. Synopsys has a 52 week low of $457.52 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts forecast that Synopsys will post 9.45 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Institutional Trading of Synopsys

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after acquiring an additional 278,265 shares during the period. Capital World Investors increased its holdings in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. GQG Partners LLC increased its holdings in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Finally, Swedbank AB increased its holdings in Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the period. Institutional investors own 85.47% of the company’s stock.

About Synopsys

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.