Synopsys, Inc. (NASDAQ:SNPS) Given Average Recommendation of “Moderate Buy” by Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $638.58.

A number of research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Robert W. Baird lowered their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company.

Synopsys Trading Down 1.9 %

Shares of NASDAQ:SNPS opened at $437.95 on Monday. The company has a 50 day moving average of $485.62 and a 200 day moving average of $505.72. The stock has a market cap of $67.72 billion, a P/E ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys has a 12 month low of $425.73 and a 12 month high of $624.80.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last three months. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Synopsys

Several institutional investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI bought a new stake in shares of Synopsys in the third quarter worth about $229,000. Raymond James Trust N.A. grew its position in shares of Synopsys by 22.9% in the 3rd quarter. Raymond James Trust N.A. now owns 1,475 shares of the semiconductor company’s stock worth $747,000 after buying an additional 275 shares during the last quarter. Nwam LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $202,000. Great Valley Advisor Group Inc. raised its holdings in shares of Synopsys by 34.0% during the third quarter. Great Valley Advisor Group Inc. now owns 8,837 shares of the semiconductor company’s stock valued at $4,475,000 after acquiring an additional 2,243 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Synopsys by 23.4% in the third quarter. Cerity Partners LLC now owns 47,954 shares of the semiconductor company’s stock worth $24,284,000 after acquiring an additional 9,078 shares during the period. Hedge funds and other 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.