Synopsys (NASDAQ:SNPS) Given New $510.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has significantly lowered its price target for Synopsys from $715.00 to $510.00, while still maintaining an "overweight" rating, indicating potential upside of 31.52% based on the stock's previous close.
• Multiple analysts have adjusted their price targets downward, with recent reductions from Wells Fargo, JPMorgan Chase, KeyCorp, and Goldman Sachs, reflecting a consensus rating of "Moderate Buy" and a target price averaging around $585.33.
• Insider transactions reveal CEO Sassine Ghazi and CRO Richard S. Mahoney have sold shares, with Ghazi's recent sale indicating a 13.70% decrease in ownership, raising concerns among investors about insider confidence.

Synopsys (NASDAQ:SNPS - Get Free Report) had its price objective decreased by equities researchers at Morgan Stanley from $715.00 to $510.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor company's stock. Morgan Stanley's price target points to a potential upside of 31.52% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a research note on Wednesday. KeyCorp cut their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their target price on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $585.33.

Synopsys Stock Performance

SNPS stock opened at $387.78 on Thursday. The firm has a 50 day moving average of $594.99 and a two-hundred day moving average of $506.99. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys has a 12 month low of $365.74 and a 12 month high of $651.73. The company has a market capitalization of $60.17 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 3.97 and a beta of 1.14.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,031 shares of company stock valued at $13,168,999. 0.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. North Star Asset Management Inc. lifted its position in Synopsys by 3.6% during the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock valued at $25,847,000 after purchasing an additional 2,082 shares during the period. SlateStone Wealth LLC lifted its position in Synopsys by 467.8% during the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after purchasing an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in Synopsys during the 1st quarter valued at about $1,000,000. Wealth Enhancement Advisory Services LLC lifted its position in Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after purchasing an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Synopsys during the 1st quarter valued at about $3,116,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Company Profile

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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