Synopsys, Inc. (NASDAQ:SNPS)’s share price reached a new 52-week high on Friday . The stock traded as high as $156.85 and last traded at $156.09, with a volume of 1604 shares trading hands. The stock had previously closed at $154.96.
Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Synopsys in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Synopsys from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $157.00 to $160.00 in a research note on Thursday, December 12th. BidaskClub raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, DA Davidson reaffirmed a “buy” rating and set a $175.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $156.44.
The company has a market capitalization of $23.48 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 3.20 and a beta of 1.18. The company’s fifty day moving average is $142.01 and its 200-day moving average is $137.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.91.
In related news, CFO Trac Pham sold 10,000 shares of Synopsys stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $139.52, for a total transaction of $1,395,200.00. Following the transaction, the chief financial officer now directly owns 11,641 shares of the company’s stock, valued at $1,624,152.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.84% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Synopsys by 1.1% in the first quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock worth $29,613,000 after purchasing an additional 2,914 shares during the last quarter. Keudell Morrison Wealth Management purchased a new position in Synopsys in the second quarter worth $2,448,000. Balyasny Asset Management LLC purchased a new position in Synopsys in the second quarter worth $794,000. CSat Investment Advisory L.P. grew its holdings in Synopsys by 133.1% in the second quarter. CSat Investment Advisory L.P. now owns 422 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 241 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in Synopsys by 22.0% in the second quarter. UBS Asset Management Americas Inc. now owns 700,614 shares of the semiconductor company’s stock worth $90,162,000 after purchasing an additional 126,306 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.
About Synopsys (NASDAQ:SNPS)
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.
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