Synopsys (NASDAQ:SNPS) had its price objective increased by analysts at KeyCorp from $135.00 to $152.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would indicate a potential upside of 10.62% from the stock’s current price.
A number of other research firms also recently commented on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Synopsys in a report on Wednesday, April 3rd. Bank of America set a $4.00 price target on GameStop and gave the stock a “sell” rating in a research note on Wednesday, June 5th. Zacks Investment Research upgraded Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada raised their price target on Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $125.89.
SNPS opened at $137.41 on Friday. Synopsys has a one year low of $79.14 and a one year high of $137.88. The stock has a market cap of $20.60 billion, a P/E ratio of 34.70, a P/E/G ratio of 4.12 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $125.93.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The business had revenue of $836.20 million for the quarter, compared to the consensus estimate of $829.41 million. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts forecast that Synopsys will post 3.03 EPS for the current year.
In other Synopsys news, Director Steven Walske sold 2,453 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $126.54, for a total transaction of $310,402.62. Following the completion of the sale, the director now directly owns 14,038 shares of the company’s stock, valued at approximately $1,776,368.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roy Vallee sold 15,596 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $128.95, for a total value of $2,011,104.20. Following the sale, the director now directly owns 52,641 shares of the company’s stock, valued at $6,788,056.95. The disclosure for this sale can be found here. Insiders have sold a total of 207,180 shares of company stock worth $24,653,559 in the last 90 days. 1.84% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of SNPS. PNC Financial Services Group Inc. lifted its position in Synopsys by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,040 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 1,570 shares during the period. Advisor Group Inc. lifted its holdings in shares of Synopsys by 19.6% in the 4th quarter. Advisor Group Inc. now owns 11,470 shares of the semiconductor company’s stock valued at $966,000 after buying an additional 1,876 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Synopsys by 14.2% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 37,425 shares of the semiconductor company’s stock valued at $3,153,000 after buying an additional 4,664 shares during the period. United Services Automobile Association lifted its holdings in shares of Synopsys by 3.0% in the 4th quarter. United Services Automobile Association now owns 86,610 shares of the semiconductor company’s stock valued at $7,296,000 after buying an additional 2,512 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Synopsys by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 581,174 shares of the semiconductor company’s stock valued at $48,957,000 after buying an additional 17,609 shares during the period. 91.72% of the stock is owned by institutional investors.
Synopsys Company Profile
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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