Synopsys (NASDAQ:SNPS) Hits New 12-Month High - Still a Buy?

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $618.49 and last traded at $614.42, with a volume of 2002257 shares changing hands. The stock had previously closed at $615.13.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SNPS shares. The Goldman Sachs Group began coverage on Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target on the stock. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp boosted their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, Piper Sandler boosted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $620.67.

Synopsys Stock Down 1.0%

The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a market capitalization of $94.39 billion, a price-to-earnings ratio of 43.92, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12. The firm's 50-day simple moving average is $514.19 and its two-hundred day simple moving average is $485.44.

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

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the company'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 value of $5,204,832.38. Following the sale, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 50 shares during the period. Proficio Capital Partners LLC grew its holdings in Synopsys by 47.7% during the 4th quarter. Proficio Capital Partners LLC now owns 796 shares of the semiconductor company's stock valued at $386,000 after purchasing an additional 257 shares in the last quarter. LPL Financial LLC increased its stake in Synopsys by 33.6% during the 4th quarter. LPL Financial LLC now owns 129,967 shares of the semiconductor company's stock worth $63,081,000 after buying an additional 32,699 shares during the period. Zions Bancorporation N.A. lifted its holdings in Synopsys by 7.1% in the 4th quarter. Zions Bancorporation N.A. now owns 469 shares of the semiconductor company's stock worth $228,000 after buying an additional 31 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Synopsys by 6.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 101,963 shares of the semiconductor company's stock valued at $49,489,000 after buying an additional 5,773 shares during the last quarter. Hedge funds and other institutional investors 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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