Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Rating of “Moderate Buy” by Analysts

Synopsys, Inc. (NASDAQ:SNPS) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $641.82.

A number of equities analysts have recently commented on the stock. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday. They set a “buy” rating and a $600.00 price target on the stock. Finally, Piper Sandler cut their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th.

Synopsys Price Performance

Synopsys stock opened at $490.36 on Wednesday. The firm has a 50-day moving average of $522.21 and a 200-day moving average of $527.43. Synopsys has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $75.80 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 3.41 and a beta of 1.12.

Hedge Funds Weigh In On Synopsys

Institutional investors have recently made changes to their positions in the stock. Davidson Capital Management Inc. boosted its stake in shares of Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists lifted its position in shares of Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank increased its stake in shares of Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after acquiring an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. raised its holdings in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. 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.