Synopsys, Inc. (NASDAQ:SNPS) Given Consensus Rating of “Moderate Buy” by Brokerages

Synopsys, Inc. (NASDAQ:SNPS) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $641.82.

A number of equities analysts recently weighed in on SNPS shares. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Wells Fargo & Company dropped their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Synopsys

Hedge funds have recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Caprock Group LLC lifted its stake in shares of Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares in the last quarter. Edge Capital Group LLC increased its position in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after buying an additional 20 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its holdings in Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 0.9 %

Shares of NASDAQ SNPS opened at $533.18 on Friday. The stock’s fifty day simple moving average is $514.44 and its 200 day simple moving average is $519.45. The stock has a market capitalization of $82.42 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 3.44 and a beta of 1.12. Synopsys has a 52-week low of $457.52 and a 52-week high of $629.38.

About Synopsys

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.