Synopsys, Inc. (NASDAQ:SNPS) Receives $641.82 Average Price Target from Analysts

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

Several analysts have weighed in on SNPS shares. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price 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. Finally, Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th.

Synopsys Trading Up 0.9 %

Shares of SNPS opened at $533.18 on Friday. The firm has a market cap of $82.42 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 3.44 and a beta of 1.12. Synopsys has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a 50 day moving average of $514.44 and a 200-day moving average of $519.45.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter valued at $25,000. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth about $27,000. Tsfg LLC raised its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Synopsys in the 4th quarter valued at about $33,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

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.