Wall Street Zen Downgrades Synopsys (NASDAQ:SNPS) to Sell

Wall Street Zen downgraded shares of Synopsys (NASDAQ:SNPS) from a hold rating to a sell rating in a report issued on Saturday.

Several other research analysts also recently commented on SNPS. Bank of America reaffirmed an “underperform” rating and issued a $525.00 price target (down previously from $625.00) on shares of Synopsys in a research note on Wednesday, September 10th. KeyCorp reduced their price target on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 10th. Wells Fargo & Company reduced their price target on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 10th. JPMorgan Chase & Co. cut their target price on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 10th. Finally, Piper Sandler cut their target price on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $585.33.

Synopsys Trading Down 1.5%

SNPS stock opened at $419.20 on Friday. The company has a market capitalization of $77.87 billion, a PE ratio of 32.90, a P/E/G ratio of 5.60 and a beta of 1.14. Synopsys has a 12 month low of $365.74 and a 12 month high of $651.73. The firm’s 50-day moving average is $588.04 and its 200 day moving average is $506.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51.

Insider Buying and Selling at Synopsys

In other news, Director Robert G. Painter purchased 350 shares of the stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $425.44 per share, for a total transaction of $148,904.00. Following the acquisition, the director owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,031 shares of company stock worth $13,168,999. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Synopsys

Institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. Saudi Central Bank bought a new stake in shares of Synopsys in the 1st quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 53 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Synopsys by 120.0% in the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 30 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of Synopsys in the 4th quarter valued at about $29,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.