Synopsys (NASDAQ:SNPS) Stock Rating Lowered by Baird R W

Key Points

• Baird R W has downgraded Synopsys from a "strong-buy" to a "hold" rating in their latest research report.
• Analysts have widely reduced their price targets for Synopsys, with estimates now ranging from $550.00 to $630.00, reflecting a cautious outlook.
• Despite recent stock performance fluctuations, Synopsys maintains a consensus rating of "Moderate Buy" among analysts, with a price target of $599.00.

Synopsys (NASDAQ:SNPS - Get Free Report) was downgraded by investment analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on SNPS. Piper Sandler reduced their price target on Synopsys from $660.00 to $630.00 and set an "overweight" rating for the company in a research report on Wednesday. Stifel Nicolaus reduced their price target on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their price target on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday. Needham & Company LLC reduced their price target on Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Citigroup lowered Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $599.00.

Synopsys Trading Down 35.8%

Shares of SNPS stock opened at $387.78 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys has a 1 year low of $365.74 and a 1 year high of $651.73. The stock has a fifty day moving average of $594.99 and a two-hundred day moving average of $506.99. The firm has a market capitalization of $60.17 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was 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 of the company's stock, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,031 shares of company stock valued at $13,168,999 over the last three months. Company insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares during the period. Saudi Central Bank acquired a new position in Synopsys in the 1st quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd increased its position in Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Independence Bank of Kentucky increased its position in Synopsys by 120.0% in the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 30 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in Synopsys in the 4th quarter worth about $29,000. 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.

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