Analysts Set Synopsys, Inc. (SNPS) PT at $119.56

Synopsys, Inc. (NASDAQ:SNPS) has earned an average recommendation of “Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $119.56.

Several research analysts recently weighed in on SNPS shares. Zacks Investment Research raised Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research report on Monday, February 25th. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target (up from $115.00) on shares of Synopsys in a research report on Thursday, March 28th. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a research report on Saturday, February 9th. KeyCorp started coverage on Synopsys in a research report on Wednesday, April 10th. They set an “overweight” rating and a $135.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a research report on Thursday, April 11th.

In related news, Director John Schwarz sold 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $117.61, for a total transaction of $1,176,100.00. Following the transaction, the director now directly owns 16,491 shares of the company’s stock, valued at $1,939,506.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chi-Foon Chan sold 85,105 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $102.20, for a total value of $8,697,731.00. Following the transaction, the chief executive officer now directly owns 294,218 shares in the company, valued at $30,069,079.60. The disclosure for this sale can be found here. Insiders have sold 142,190 shares of company stock worth $14,729,218 over the last three months. 1.84% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Lunia Capital LP acquired a new position in Synopsys in the 4th quarter worth about $18,330,000. Vanguard Group Inc increased its position in Synopsys by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 15,851,502 shares of the semiconductor company’s stock worth $1,563,115,000 after purchasing an additional 204,619 shares during the last quarter. Parnassus Investments CA increased its position in Synopsys by 15.9% in the 4th quarter. Parnassus Investments CA now owns 6,795,161 shares of the semiconductor company’s stock worth $572,424,000 after purchasing an additional 931,666 shares during the last quarter. JPMorgan Chase & Co. increased its position in Synopsys by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock worth $607,189,000 after purchasing an additional 1,513,575 shares during the last quarter. Finally, Swedbank increased its position in Synopsys by 4.4% in the 4th quarter. Swedbank now owns 2,978,809 shares of the semiconductor company’s stock worth $249,148,000 after purchasing an additional 125,613 shares during the last quarter. 90.09% of the stock is currently owned by institutional investors.

Shares of Synopsys stock opened at $119.57 on Friday. The firm has a market cap of $18.21 billion, a PE ratio of 42.40, a P/E/G ratio of 3.89 and a beta of 1.30. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. Synopsys has a 12-month low of $79.14 and a 12-month high of $122.36.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.51. The company had revenue of $820.40 million for the quarter, compared to analyst estimates of $796.30 million. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. Synopsys’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 earnings per share. Equities research analysts predict that Synopsys will post 3.13 EPS for the current fiscal year.

About Synopsys

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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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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