Synopsys, Inc. (NASDAQ:SNPS) Receives $638.58 Consensus Target Price from Brokerages

Shares of Synopsys, Inc. (NASDAQ:SNPS) have received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $638.58.

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. 0.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synopsys

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the 4th quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter worth $29,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the fourth quarter valued at $34,000. Finally, Sierra Ocean LLC bought a new position in Synopsys in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $437.95 on Monday. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. The business has a 50 day moving average of $485.62 and a 200 day moving average of $505.27. Synopsys has a 1-year low of $425.73 and a 1-year high of $624.80.

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.