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Synopsys, Inc. (NASDAQ:SNPS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Synopsys logo with Computer and Technology background

Shares of Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $607.14.

A number of analysts recently weighed in on the stock. KeyCorp set a $540.00 target price on shares of Synopsys in a report on Tuesday, June 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Piper Sandler restated an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Bank of America lowered their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho cut their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th.

Check Out Our Latest Analysis on Synopsys

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer directly owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNPS. HBW Advisory Services LLC increased its stake in shares of Synopsys by 494.9% during the second quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company's stock valued at $1,851,000 after buying an additional 3,004 shares during the period. Jacobs & Co. CA boosted its holdings in Synopsys by 2.7% in the second quarter. Jacobs & Co. CA now owns 24,179 shares of the semiconductor company's stock valued at $12,396,000 after acquiring an additional 639 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Synopsys during the 2nd quarter valued at $1,586,000. Cullen Investment Group LTD. boosted its position in shares of Synopsys by 92.9% during the second quarter. Cullen Investment Group LTD. now owns 3,233 shares of the semiconductor company's stock valued at $1,657,000 after purchasing an additional 1,557 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new position in Synopsys during the first quarter valued at $2,710,000. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 0.3%

Shares of NASDAQ SNPS traded up $1.33 during mid-day trading on Wednesday, reaching $523.11. 978,998 shares of the company's stock traded hands, compared to its average volume of 1,168,391. The business has a 50-day simple moving average of $483.71 and a 200 day simple moving average of $477.44. Synopsys has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a market cap of $81.17 billion, a P/E ratio of 37.77, a PEG ratio of 3.39 and a beta of 1.12. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. On average, analysts expect that Synopsys will post 10.64 EPS for the current fiscal year.

Synopsys Company Profile

(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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