Analysts Set Synopsys, Inc. (NASDAQ:SNPS) Price Target at $601.00

Shares of Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) have been given an average recommendation of "Buy" by the ten brokerages that are presently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $601.00.

A number of brokerages recently issued reports on SNPS. Rosenblatt Securities reissued a "buy" rating and issued a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC restated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. StockNews.com raised Synopsys from a "hold" rating to a "buy" rating in a report on Monday, March 18th. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an "outperform" rating in a report on Thursday, February 22nd. Finally, Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an "overweight" rating and a $665.00 price objective on the stock.

Insider Buying and Selling at Synopsys

In related news, Director Marc N. Casper bought 750 shares of the business's stock in a transaction on Monday, March 25th. The stock was bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Marc N. Casper bought 750 shares of the firm's stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now directly owns 1,736 shares of the company's stock, valued at $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 in the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNPS. Bay Harbor Wealth Management LLC acquired a new position in shares of Synopsys during the 1st quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. bought a new position in Synopsys in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC acquired a new position in shares of Synopsys during the third quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Synopsys in the third quarter valued at approximately $26,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 2.6 %

SNPS stock traded up $13.56 during midday trading on Friday, reaching $536.94. The company had a trading volume of 855,167 shares, compared to its average volume of 1,212,881. The firm has a market capitalization of $81.88 billion, a PE ratio of 59.13, a P/E/G ratio of 3.05 and a beta of 1.07. The stock has a 50 day moving average price of $561.64 and a 200 day moving average price of $537.01. Synopsys has a fifty-two week low of $365.46 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. Research analysts predict that Synopsys will post 9.78 EPS for the current year.

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.