Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Rating of "Moderate Buy" by Brokerages

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $607.14.

SNPS has been the topic of a number of research reports. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. Mizuho dropped their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities decreased their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Finally, KeyCorp set a $540.00 price objective on shares of Synopsys in a research report on Tuesday.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNPS. Norges Bank bought a new stake in Synopsys in the fourth quarter worth approximately $583,608,000. GAMMA Investing LLC increased its holdings in Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after buying an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after buying an additional 1,045,326 shares during the period. Nuveen LLC bought a new stake in shares of Synopsys in the 1st quarter worth about $341,480,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.8%

NASDAQ:SNPS opened at $486.00 on Friday. The stock has a fifty day simple moving average of $456.95 and a 200-day simple moving average of $483.94. Synopsys has a 52-week low of $365.74 and a 52-week high of $624.80. The company has a market capitalization of $75.41 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.00 EPS. As a group, equities analysts anticipate that Synopsys will post 10.64 earnings per share 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.

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