Synopsys, Inc. (NASDAQ:SNPS) has earned an average rating of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $83.14.
A number of brokerages have issued reports on SNPS. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Tuesday, October 3rd. Credit Suisse Group reaffirmed an “outperform” rating on shares of Synopsys in a report on Thursday, August 31st. HSBC Holdings plc reaffirmed an “average” rating on shares of Synopsys in a report on Thursday, September 14th. BidaskClub upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $83.00 price target (up previously from $77.00) on shares of Synopsys in a research report on Thursday, August 17th.
Synopsys (SNPS) traded down 0.04% during trading on Friday, reaching $82.68. The company had a trading volume of 618,784 shares. The firm’s 50 day moving average price is $80.03 and its 200 day moving average price is $75.69. The firm has a market capitalization of $12.42 billion, a PE ratio of 38.82 and a beta of 1.00. Synopsys has a 12-month low of $56.03 and a 12-month high of $82.84.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The business had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $691.22 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts anticipate that Synopsys will post $3.31 earnings per share for the current year.
Synopsys announced that its Board of Directors has approved a stock repurchase plan on Friday, June 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP Joseph W. Logan sold 5,000 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the sale, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $77.50, for a total value of $290,625.00. Following the sale, the chief executive officer now owns 200,429 shares in the company, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. 1.82% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Sawtooth Solutions LLC boosted its position in shares of Synopsys by 0.3% during the 2nd quarter. Sawtooth Solutions LLC now owns 3,220 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 9 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Synopsys by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,767 shares of the semiconductor company’s stock valued at $494,000 after purchasing an additional 18 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Synopsys by 3.7% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 55 shares in the last quarter. Ifrah Financial Services Inc. boosted its position in shares of Synopsys by 1.2% during the 2nd quarter. Ifrah Financial Services Inc. now owns 5,204 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 62 shares in the last quarter. Finally, Cypress Wealth Advisors LLC boosted its position in shares of Synopsys by 1.7% during the 1st quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 88.94% of the company’s stock.
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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