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

Synopsys, Inc. (NASDAQ:SNPS) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $638.58.

A number of equities research analysts have recently issued reports on SNPS shares. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th.

Synopsys Trading Up 0.6 %

Shares of NASDAQ SNPS opened at $447.96 on Thursday. Synopsys has a 12-month low of $429.77 and a 12-month high of $624.80. The firm has a market capitalization of $69.26 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The firm has a 50 day moving average of $503.01 and a 200 day moving average of $513.56.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction 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. This trade represents 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 corporate insiders.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently modified their holdings of the stock. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 1,984 shares during the period. Swiss National Bank raised its stake in shares of Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the period. Parnassus Investments LLC purchased a new stake in shares of Synopsys in the third quarter valued at $633,469,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 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.