Synopsys (NASDAQ:SNPS) Price Target Lowered to $555.00 at KeyCorp

Synopsys (NASDAQ:SNPS - Free Report) had its price target trimmed by KeyCorp from $690.00 to $555.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company's stock.

A number of other research firms also recently weighed in on SNPS. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $618.31.

Synopsys Trading Down 0.6 %

Shares of Synopsys stock traded down $2.33 on Tuesday, reaching $413.32. 1,002,399 shares of the stock were exchanged, compared to its average volume of 1,091,245. Synopsys has a 1-year low of $365.74 and a 1-year high of $624.80. The business has a fifty day moving average price of $446.35 and a two-hundred day moving average price of $495.10. The firm has a market capitalization of $63.91 billion, a PE ratio of 28.47, a PEG ratio of 3.23 and a beta of 1.23.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Institutional Trading of Synopsys

A number of hedge funds have recently added to or reduced their stakes in SNPS. Advisors Capital Management LLC increased its stake in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after acquiring an additional 19 shares during the last quarter. Caprock Group LLC increased its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock worth $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA raised its stake in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after purchasing an additional 20 shares during the period. Edge Capital Group LLC boosted its holdings in shares of Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. Finally, Barden Capital Management Inc. grew its stake in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after buying an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

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.