Robert W. Baird Lowers Synopsys (NASDAQ:SNPS) Price Target to $630.00

Synopsys (NASDAQ:SNPS) had its price objective dropped by investment analysts at Robert W. Baird from $644.00 to $630.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price objective points to a potential upside of 7.14% from the company’s current price.

Several other research firms have also weighed in on SNPS. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Piper Sandler lowered their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.50.

Synopsys Stock Up 3.1 %

Shares of NASDAQ:SNPS opened at $588.00 on Thursday. The firm has a market cap of $90.32 billion, a P/E ratio of 61.00, a P/E/G ratio of 3.48 and a beta of 1.08. Synopsys has a 12-month low of $457.52 and a 12-month high of $629.38. The business has a fifty day simple moving average of $529.85 and a 200 day simple moving average of $545.69.

Hedge Funds Weigh In On Synopsys

Several institutional investors have recently bought and sold shares of the company. ORG Partners LLC raised its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter valued at $30,000. Pacifica Partners Inc. bought a new stake in Synopsys during the 3rd quarter valued at $25,000. Tsfg LLC raised its holdings in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Synopsys during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.