Synopsys, Inc. (NASDAQ:SNPS)’s share price hit a new 52-week high on Friday . The stock traded as high as $150.72 and last traded at $150.38, with a volume of 181564 shares. The stock had previously closed at $149.69.
Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. DA Davidson reaffirmed a “buy” rating and issued a $175.00 target price on shares of Synopsys in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Synopsys in a report on Thursday, December 5th. KeyCorp upped their target price on shares of Synopsys from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, Bank of America assumed coverage on shares of Synopsys in a report on Monday, September 23rd. They issued a “buy” rating and a $171.00 target price for the company. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Synopsys presently has a consensus rating of “Buy” and an average target price of $156.44.
The company has a market cap of $22.53 billion, a P/E ratio of 43.47, a P/E/G ratio of 3.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.91 and a current ratio of 0.99. The firm’s fifty day moving average is $140.07 and its two-hundred day moving average is $137.01.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, December 4th. The semiconductor company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $851.10 million during the quarter, compared to the consensus estimate of $847.34 million. Synopsys had a net margin of 15.84% and a return on equity of 13.54%. Synopsys’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 3.76 EPS for the current year.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $141.15, for a total value of $1,411,500.00. Following the sale, the general counsel now owns 23,607 shares in the company, valued at approximately $3,332,128.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.84% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Quest Capital Management Inc. ADV purchased a new stake in Synopsys in the 3rd quarter worth $25,000. Usca Ria LLC purchased a new stake in Synopsys in the 3rd quarter worth $42,000. Flagship Harbor Advisors LLC lifted its stake in Synopsys by 55.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 354 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 127 shares in the last quarter. MUFG Americas Holdings Corp purchased a new stake in Synopsys in the 3rd quarter worth $55,000. Finally, CSat Investment Advisory L.P. lifted its stake in Synopsys by 133.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 422 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
Synopsys Company Profile (NASDAQ:SNPS)
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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