Synopsys (NASDAQ:SNPS) Reaches New 52-Week High at $156.85

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.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, December 4th. The semiconductor company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.02. The company had revenue of $851.10 million for the quarter, compared to analyst estimates of $847.34 million. Synopsys had a net margin of 15.84% and a return on equity of 13.54%. Synopsys’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post 3.76 EPS for the current fiscal year.

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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