Synopsys, Inc. (NASDAQ:SNPS) Receives Average Rating of “Moderate Buy” from Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $613.43.

SNPS has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Mizuho cut their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Slotnik Capital LLC purchased a new position in Synopsys in the 1st quarter worth approximately $1,923,000. Empowered Funds LLC lifted its holdings in shares of Synopsys by 5.6% during the 1st quarter. Empowered Funds LLC now owns 8,940 shares of the semiconductor company’s stock worth $3,834,000 after acquiring an additional 472 shares during the last quarter. Peloton Wealth Strategists grew its position in Synopsys by 7.7% in the first quarter. Peloton Wealth Strategists now owns 3,153 shares of the semiconductor company’s stock worth $1,352,000 after acquiring an additional 225 shares in the last quarter. MBB Public Markets I LLC bought a new position in Synopsys in the first quarter valued at $301,000. Finally, Ascent Group LLC increased its stake in Synopsys by 53.3% in the first quarter. Ascent Group LLC now owns 1,536 shares of the semiconductor company’s stock valued at $659,000 after acquiring an additional 534 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

NASDAQ SNPS opened at $514.43 on Tuesday. The company has a market capitalization of $79.54 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys has a 52-week low of $365.74 and a 52-week high of $624.80. The company has a 50-day simple moving average of $444.44 and a 200 day simple moving average of $489.13.

About Synopsys

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.