A number of other equities research analysts have also recently issued reports on SNPS. KeyCorp boosted their price objective on Synopsys from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded Synopsys from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $157.00 to $160.00 in a research note on Thursday, December 12th. DA Davidson restated a “buy” rating and issued a $175.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Bank of America initiated coverage on Synopsys in a research note on Monday, September 23rd. They issued a “buy” rating and a $171.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Synopsys in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Synopsys presently has an average rating of “Buy” and a consensus target price of $156.44.
Synopsys stock traded up $1.07 during midday trading on Tuesday, reaching $148.98. The stock had a trading volume of 12,172 shares, compared to its average volume of 845,461. Synopsys has a 12 month low of $88.22 and a 12 month high of $150.53. The firm’s 50-day moving average price is $139.90 and its 200 day moving average price is $136.90. The firm has a market capitalization of $22.31 billion, a PE ratio of 43.13, a P/E/G ratio of 3.09 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 0.99 and a debt-to-equity ratio of 0.03.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, December 4th. The semiconductor company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.02. Synopsys had a return on equity of 13.54% and a net margin of 15.84%. The business had revenue of $851.10 million for the quarter, compared to analysts’ expectations of $847.34 million. During the same period in the previous year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts expect that Synopsys will post 3.76 EPS for the current year.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $141.15, for a total transaction of $1,411,500.00. Following the completion of the transaction, the general counsel now owns 23,607 shares of the company’s stock, valued at approximately $3,332,128.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.84% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Synopsys by 4.5% during the second quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock worth $1,658,997,000 after purchasing an additional 554,602 shares in the last quarter. State Street Corp grew its holdings in shares of Synopsys by 1.8% during the third quarter. State Street Corp now owns 6,590,909 shares of the semiconductor company’s stock worth $904,602,000 after purchasing an additional 118,002 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Synopsys by 33.9% during the second quarter. Invesco Ltd. now owns 3,505,038 shares of the semiconductor company’s stock worth $451,061,000 after purchasing an additional 888,033 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Synopsys by 63.1% during the third quarter. Voya Investment Management LLC now owns 2,062,231 shares of the semiconductor company’s stock worth $283,041,000 after purchasing an additional 798,176 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Synopsys by 4,054.6% during the second quarter. Nuveen Asset Management LLC now owns 1,958,501 shares of the semiconductor company’s stock worth $252,039,000 after purchasing an additional 1,911,360 shares in the last quarter. 87.94% of the stock is owned by institutional investors.
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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