Shares of Synopsys, Inc. (NASDAQ:SNPS) have been given an average rating of “Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $83.14.
SNPS has been the subject of a number of research reports. Credit Suisse Group reissued an “outperform” rating on shares of Synopsys in a research note on Thursday, August 31st. Zacks Investment Research raised shares of Synopsys from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Tuesday, October 3rd. HSBC Holdings plc reissued an “average” rating on shares of Synopsys in a research note on Thursday, September 14th. Royal Bank Of Canada lifted their target price on shares of Synopsys from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Finally, BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th.
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Synopsys (NASDAQ SNPS) traded up 2.27% during mid-day trading on Friday, hitting $84.74. The stock had a trading volume of 1,146,353 shares. The firm’s 50-day moving average is $80.46 and its 200 day moving average is $75.88. Synopsys has a one year low of $56.03 and a one year high of $84.93. The stock has a market cap of $12.73 billion, a PE ratio of 39.78 and a beta of 1.00.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $695.40 million during the quarter, compared to analyst estimates of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. Equities research analysts expect that Synopsys will post $3.31 EPS for the current year.
Synopsys announced that its board has initiated a stock repurchase plan on Friday, June 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction on Friday, August 18th. The shares were sold at an average price of $76.99, for a total value of $384,950.00. Following the transaction, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction on Friday, August 18th. The stock was sold at an average price of $77.50, for a total transaction of $290,625.00. Following the completion of the transaction, the chief executive officer now owns 200,429 shares in the company, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sawtooth Solutions LLC raised its holdings in Synopsys by 0.3% in the 2nd quarter. Sawtooth Solutions LLC now owns 3,220 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 9 shares during the period. Alps Advisors Inc. raised its holdings in Synopsys by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,767 shares of the semiconductor company’s stock worth $494,000 after acquiring an additional 18 shares during the period. YorkBridge Wealth Partners LLC raised its holdings in Synopsys by 3.7% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 55 shares during the period. Ifrah Financial Services Inc. raised its holdings in Synopsys by 1.2% in the 2nd quarter. Ifrah Financial Services Inc. now owns 5,204 shares of the semiconductor company’s stock worth $380,000 after acquiring an additional 62 shares during the period. Finally, Cypress Wealth Advisors LLC raised its holdings in Synopsys by 1.7% in the 1st quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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