Synopsys (NASDAQ:SNPS) Price Target Lowered to $555.00 at KeyCorp

Synopsys (NASDAQ:SNPS) had its target price decreased by KeyCorp from $690.00 to $555.00 in a report published on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

SNPS has been the subject of several other reports. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Mizuho dropped 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $623.17.

Synopsys Price Performance

Shares of SNPS stock opened at $425.65 on Tuesday. The firm’s 50-day simple moving average is $453.23 and its 200-day simple moving average is $496.88. Synopsys has a 1-year low of $365.74 and a 1-year high of $624.80. The firm has a market cap of $65.81 billion, a P/E ratio of 29.31, a PEG ratio of 3.23 and a beta of 1.23.

Insider Buying and Selling

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

Institutional Trading of Synopsys

Hedge funds and other institutional investors have recently bought and sold shares of the company. Simon Quick Advisors LLC lifted its holdings in Synopsys by 121.5% during the 1st quarter. Simon Quick Advisors LLC now owns 1,411 shares of the semiconductor company’s stock worth $605,000 after buying an additional 774 shares during the last quarter. My Legacy Advisors LLC raised its position in shares of Synopsys by 4.6% during the 1st quarter. My Legacy Advisors LLC now owns 663 shares of the semiconductor company’s stock valued at $284,000 after acquiring an additional 29 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in Synopsys by 2.5% during the first quarter. Redhawk Wealth Advisors Inc. now owns 6,248 shares of the semiconductor company’s stock worth $2,679,000 after purchasing an additional 155 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in Synopsys by 8.0% in the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 39 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Synopsys by 25.1% in the first quarter. Handelsbanken Fonder AB now owns 286,558 shares of the semiconductor company’s stock worth $122,890,000 after purchasing an additional 57,424 shares during the period. 85.47% of the stock is owned by institutional investors.

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.