BidaskClub upgraded shares of Synopsys (NASDAQ:SNPS) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.
SNPS has been the subject of several other research reports. Zacks Investment Research lowered shares of Synopsys from a buy rating to a hold rating in a report on Wednesday, May 23rd. KeyCorp raised their price target on shares of Synopsys from $112.00 to $115.00 and gave the stock an overweight rating in a report on Thursday, August 23rd. JPMorgan Chase & Co. raised their price target on shares of Synopsys to $98.00 and gave the stock an underweight rating in a report on Thursday, August 23rd. TheStreet upgraded shares of Synopsys from a c+ rating to a b rating in a report on Wednesday, May 23rd. Finally, DA Davidson raised their price target on shares of Synopsys to $110.00 and gave the stock a buy rating in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $106.14.
Synopsys stock opened at $102.03 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.73. Synopsys has a 52-week low of $78.00 and a 52-week high of $102.91. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 115.94, a PEG ratio of 6.51 and a beta of 1.12.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The firm had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. During the same quarter last year, the business earned $0.92 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. analysts forecast that Synopsys will post 1.57 earnings per share for the current year.
In other news, General Counsel John F. Runkel, Jr. sold 9,802 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $90.00, for a total transaction of $882,180.00. Following the completion of the sale, the general counsel now owns 22,373 shares of the company’s stock, valued at approximately $2,013,570. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,609 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $101.85, for a total transaction of $367,576.65. Following the sale, the chief executive officer now directly owns 202,135 shares of the company’s stock, valued at approximately $20,587,449.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,411 shares of company stock valued at $3,278,357. Insiders own 1.84% of the company’s stock.
Several hedge funds have recently made changes to their positions in SNPS. Fort L.P. acquired a new stake in shares of Synopsys during the 2nd quarter worth approximately $117,000. Piedmont Investment Advisors LLC acquired a new stake in Synopsys in the 2nd quarter valued at $149,000. Advisor Partners LLC acquired a new stake in Synopsys in the 2nd quarter valued at $205,000. Checchi Capital Advisers LLC acquired a new stake in Synopsys in the 2nd quarter valued at $205,000. Finally, First Republic Investment Management Inc. acquired a new stake in Synopsys in the 2nd quarter valued at $209,000. 88.34% of the stock is owned by institutional investors.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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