Wells Fargo & Company Has Lowered Expectations for Synopsys (NASDAQ:SNPS) Stock Price

Synopsys (NASDAQ:SNPS) had its target price lowered by Wells Fargo & Company from $570.00 to $540.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 9.62% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Trading Up 0.0 %

SNPS stock traded up $0.05 on Monday, hitting $492.59. 163,954 shares of the company’s stock traded hands, compared to its average volume of 912,099. The stock has a market cap of $76.14 billion, a price-to-earnings ratio of 33.92, a P/E/G ratio of 3.41 and a beta of 1.12. Synopsys has a 1-year low of $457.52 and a 1-year high of $629.38. The stock has a fifty day moving average of $523.58 and a 200-day moving average of $528.92.

Institutional Trading of Synopsys

A number of institutional investors have recently modified their holdings of SNPS. Pacifica Partners Inc. bought a new position in shares of Synopsys during the 3rd quarter worth approximately $25,000. Tsfg LLC increased its position in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% in the third 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. Princeton Global Asset Management LLC bought a new stake in shares of Synopsys during the 3rd quarter worth approximately $44,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Synopsys in the 2nd quarter valued at approximately $51,000. 85.47% of the stock is currently owned by 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.