Mizuho Has Lowered Expectations for Synopsys (NASDAQ:SNPS) Stock Price

Synopsys (NASDAQ:SNPS - Get Free Report) had its price objective cut by stock analysts at Mizuho from $650.00 to $600.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Mizuho's price target points to a potential upside of 45.17% from the company's previous close.

Several other research firms have also commented on SNPS. Piper Sandler reduced their price target on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $618.31.

Synopsys Stock Performance

Shares of Synopsys stock traded down $2.33 on Tuesday, hitting $413.32. The company's stock had a trading volume of 1,002,399 shares, compared to its average volume of 1,091,245. The company has a market capitalization of $63.91 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys has a 1 year low of $365.74 and a 1 year high of $624.80. The firm has a fifty day moving average price of $446.35 and a 200-day moving average price of $495.10.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Synopsys

A number of large investors have recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $27,000. Ameriflex Group Inc. acquired a new stake in Synopsys during the fourth quarter valued at approximately $29,000. Whipplewood Advisors LLC bought a new position in Synopsys during the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter worth approximately $34,000. Finally, Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter valued at approximately $39,000. 85.47% of the stock is owned by institutional investors and hedge funds.

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.