Synopsys Inc. (NASDAQ:SNPS) has received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $61.00.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 13th. Pacific Crest raised their price objective on shares of Synopsys from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Benchmark Co. raised their price objective on shares of Synopsys from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 18th. DA Davidson raised their price target on shares of Synopsys from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Royal Bank Of Canada began coverage on shares of Synopsys in a research report on Monday, June 6th. They set an “outperform” rating and a $64.00 price target on the stock.
Synopsys (NASDAQ:SNPS) traded down 0.535% during mid-day trading on Tuesday, reaching $58.595. 373,096 shares of the company’s stock were exchanged. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 37.369 and a beta of 0.89. The company has a 50-day moving average of $58.72 and a 200-day moving average of $53.14. Synopsys has a 52-week low of $39.26 and a 52-week high of $60.00.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Synopsys had a net margin of 10.27% and a return on equity of 12.15%. The firm had revenue of $615.20 million for the quarter, compared to analyst estimates of $602.89 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Synopsys will post $3.02 earnings per share for the current year.
In related news, Chairman Geus Aart De sold 306,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $58.39, for a total transaction of $17,867,340.00. Following the completion of the sale, the chairman now owns 159,791 shares in the company, valued at $9,330,196.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alfred Castino sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $58.44, for a total transaction of $584,400.00. Following the sale, the director now owns 27,982 shares of the company’s stock, valued at approximately $1,635,268.08. The disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SNPS. Mizuho Asset Management Co. Ltd. increased its stake in Synopsys by 43.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,963 shares of the company’s stock worth $106,000 after buying an additional 590 shares during the period. Advisor Group Inc. acquired a new position in Synopsys during the second quarter valued at $130,000. Invictus RG increased its position in Synopsys by 751.3% in the first quarter. Invictus RG now owns 2,869 shares of the company’s stock valued at $139,000 after buying an additional 2,532 shares during the last quarter. Calamos Advisors LLC acquired a new position in Synopsys during the second quarter valued at $211,000. Finally, Meeder Asset Management Inc. acquired a new position in Synopsys during the second quarter valued at $219,000. Institutional investors and hedge funds own 91.01% of the company’s stock.
Synopsys Company Profile
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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