Stifel Nicolaus Cuts Synopsys (NASDAQ:SNPS) Price Target to $550.00

Synopsys (NASDAQ:SNPS) had its price objective trimmed by Stifel Nicolaus from $650.00 to $550.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

SNPS has been the subject of several other research reports. KeyCorp upped their target price on shares of Synopsys from $610.00 to $660.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. reduced their price target on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC reduced their price target on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company reiterated a “positive” rating on shares of Synopsys in a research report on Wednesday, August 27th. Finally, Bank of America reiterated an “underperform” rating and issued a $525.00 price target (down previously from $625.00) on shares of Synopsys in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $585.33.

Synopsys Trading Down 2.9%

Shares of Synopsys stock opened at $425.45 on Wednesday. The company has a fifty day simple moving average of $590.39 and a 200-day simple moving average of $506.54. Synopsys has a 12-month low of $365.74 and a 12-month high of $651.73. The company has a current ratio of 1.62, a quick ratio of 6.85 and a debt-to-equity ratio of 0.52. The stock has a market cap of $79.03 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.32 and a beta of 1.14.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the transaction, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the transaction, the executive owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,031 shares of company stock worth $13,168,999. 0.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Synopsys

A number of large investors have recently bought and sold shares of SNPS. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after buying an additional 44 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Synopsys during the 1st quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 53 shares during the period. Independence Bank of Kentucky grew its stake in shares of Synopsys by 120.0% during the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 30 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of Synopsys during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Company Profile

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.