Synopsys, Inc. (NASDAQ:SNPS)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a note issued to investors on Friday. They currently have a $85.00 target price on the semiconductor company’s stock, up from their previous target price of $77.00. DA Davidson’s target price would suggest a potential upside of 19.84% from the company’s current price.
Several other equities analysts have also weighed in on SNPS. Needham & Company LLC raised their price objective on shares of Synopsys from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Royal Bank of Canada raised their price objective on shares of Synopsys from $66.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $86.00 price objective (up from $78.00) on shares of Synopsys in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $75.78.
Shares of Synopsys (NASDAQ:SNPS) traded down 0.13% during trading on Friday, reaching $70.84. 760,620 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.66 billion, a PE ratio of 39.58 and a beta of 0.87. Synopsys has a 52 week low of $48.99 and a 52 week high of $75.34. The company’s 50-day moving average price is $72.89 and its 200 day moving average price is $66.08.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Synopsys had a net margin of 11.01% and a return on equity of 11.51%. The company had revenue of $680.07 million during the quarter, compared to analyst estimates of $672.40 million. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts predict that Synopsys will post $3.28 EPS for the current fiscal year.
In other news, Director Steven Walske sold 9,074 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $71.02, for a total value of $644,435.48. Following the completion of the sale, the director now directly owns 17,080 shares of the company’s stock, valued at $1,213,021.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Trac Pham sold 39,899 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $71.24, for a total transaction of $2,842,404.76. Following the completion of the sale, the chief financial officer now directly owns 12,158 shares of the company’s stock, valued at $866,135.92. The disclosure for this sale can be found here. Insiders have sold 60,973 shares of company stock valued at $4,334,280 over the last ninety days. Insiders own 1.62% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its stake in Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock worth $110,000 after buying an additional 92 shares during the period. SRS Capital Advisors Inc. bought a new stake in Synopsys during the fourth quarter worth about $114,000. Mckinley Capital Management LLC Delaware bought a new stake in Synopsys during the first quarter worth about $121,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Synopsys during the fourth quarter worth about $150,000. Finally, Robecosam AG raised its stake in Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $159,000 after buying an additional 200 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.
Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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