Synopsys (NASDAQ:SNPS) Given New $625.00 Price Target at Rosenblatt Securities

Synopsys (NASDAQ:SNPS - Free Report) had its target price decreased by Rosenblatt Securities from $660.00 to $625.00 in a research report released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company's stock.

Other equities analysts have also issued research reports about the company. Mizuho cut their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. KeyCorp set a $575.00 target price on Synopsys and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Piper Sandler cut their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $609.64.

Synopsys Price Performance

NASDAQ SNPS traded down $2.70 during trading on Thursday, hitting $461.29. The company's stock had a trading volume of 563,448 shares, compared to its average volume of 1,138,364. The company has a market cap of $71.57 billion, a PE ratio of 31.76, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The business's 50 day simple moving average is $453.46 and its 200-day simple moving average is $485.14.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly 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. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm posted $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts expect that Synopsys will post 10.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was 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 $51,850,925.82. This represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Synopsys during the fourth quarter worth approximately $583,608,000. GAMMA Investing LLC grew its position in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Synopsys by 21.5% in the fourth 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 purchasing an additional 1,045,326 shares during the period. Nuveen LLC acquired a new position in Synopsys in the first quarter valued at $341,480,000. Finally, Pictet Asset Management Holding SA raised its stake in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after acquiring an additional 673,837 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

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.