Trade Report: The Synopsys Inc. (NASDAQ:SNPS) Given Average Rating of “Buy” by Analysts

The Synopsys Inc. (NASDAQ:SNPS) Given Average Rating of “Buy” by Analysts

Synopsys Inc. (NASDAQ:SNPS) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $61.00.

A number of brokerages recently weighed in on SNPS. Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Needham & Company LLC lifted their target price on shares of Synopsys from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. KeyCorp lifted their target price on shares of Synopsys from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, August 18th. Benchmark Co. lifted their price target on shares of Synopsys from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 18th. Finally, DA Davidson lifted their price target on shares of Synopsys from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, August 18th.

Shares of Synopsys (NASDAQ:SNPS) opened at 59.26 on Tuesday. The company has a market capitalization of $8.97 billion, a PE ratio of 37.79 and a beta of 0.89. The stock has a 50 day moving average of $59.04 and a 200-day moving average of $53.39. Synopsys has a one year low of $39.26 and a one year high of $60.02.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 17th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Synopsys had a net margin of 10.27% and a return on equity of 12.15%. The business earned $615.20 million during the quarter, compared to the consensus estimate of $602.89 million. During the same quarter last year, the firm earned $0.63 earnings per share. Synopsys’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Synopsys will post $3.02 earnings per share for the current fiscal year.

In other news, VP Sudhindra Kankanwadi sold 3,409 shares of Synopsys stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $58.55, for a total transaction of $199,596.95. Following the completion of the transaction, the vice president now directly owns 4,148 shares in the company, valued at $242,865.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chi-Foon Chan sold 2,000 shares of Synopsys stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $58.23, for a total transaction of $116,460.00. Following the transaction, the chief executive officer now owns 193,935 shares of the company’s stock, valued at $11,292,835.05. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Zebra Capital Management LLC boosted its position in shares of Synopsys by 30.5% in the first quarter. Zebra Capital Management LLC now owns 25,342 shares of the company’s stock worth $1,228,000 after buying an additional 5,918 shares in the last quarter. Credit Agricole S A boosted its position in shares of Synopsys by 47.2% in the first quarter. Credit Agricole S A now owns 504,682 shares of the company’s stock worth $24,447,000 after buying an additional 161,790 shares in the last quarter. M&T Bank Corp boosted its position in shares of Synopsys by 17.0% in the first quarter. M&T Bank Corp now owns 9,350 shares of the company’s stock worth $453,000 after buying an additional 1,361 shares in the last quarter. Menta Capital LLC boosted its position in shares of Synopsys by 66.2% in the first quarter. Menta Capital LLC now owns 11,800 shares of the company’s stock worth $572,000 after buying an additional 4,700 shares in the last quarter. Finally, Mesirow Financial Investment Management US Value Equity acquired a new position in shares of Synopsys during the first quarter worth about $818,000. Hedge funds and other institutional investors own 91.01% of the company’s stock.

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