Synopsys (NASDAQ:SNPS) Price Target Increased to $635.00 by Analysts at Rosenblatt Securities

Synopsys (NASDAQ:SNPS) had its price target hoisted by Rosenblatt Securities from $615.00 to $635.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC restated a buy rating and issued a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the stock an overweight rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on Synopsys from $650.00 to $655.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. Piper Sandler raised their price target on Synopsys from $672.00 to $687.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Finally, Robert W. Baird boosted their price target on Synopsys from $645.00 to $661.00 and gave the stock an outperform rating in a research note on Tuesday, July 2nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $629.00.

Synopsys Trading Up 0.1 %

SNPS opened at $549.00 on Thursday. The firm has a market cap of $84.12 billion, a price-to-earnings ratio of 59.67, a PEG ratio of 3.42 and a beta of 1.07. Synopsys has a 12 month low of $418.51 and a 12 month high of $629.38. The stock has a fifty day moving average price of $573.99 and a 200-day moving average price of $566.51.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys will post 9.66 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total value of $3,197,590.00. Following the sale, the director now directly owns 1,543 shares in the company, valued at $897,069.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,363 shares of company stock worth $49,361,263. 0.66% of the stock is owned by company insiders.

Institutional Trading of Synopsys

A number of hedge funds have recently added to or reduced their stakes in SNPS. ORG Partners LLC raised its position in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares during the period. Bay Harbor Wealth Management LLC acquired a new position in Synopsys in the 1st quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Synopsys during the fourth quarter worth approximately $28,000. Chris Bulman Inc acquired a new stake in Synopsys in the second quarter valued at approximately $30,000. Finally, Jones Financial Companies Lllp increased its position in shares of Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

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.