Synopsys, Inc. (NASDAQ:SNPS) has received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $106.00.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of Synopsys from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. DA Davidson upped their price target on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. KeyCorp upped their price target on shares of Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, August 23rd.
Shares of Synopsys stock opened at $88.10 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70. Synopsys has a twelve month low of $80.13 and a twelve month high of $103.40. The firm has a market cap of $13.16 billion, a P/E ratio of 100.11, a price-to-earnings-growth ratio of 5.63 and a beta of 1.18.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The firm had revenue of $779.70 million during the quarter, compared to analysts’ expectations of $773.61 million. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that Synopsys will post 1.57 earnings per share 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 Thursday, August 30th. The shares were sold at an average price of $102.00, for a total value of $1,020,000.00. Following the transaction, the general counsel now owns 22,322 shares in the company, valued at approximately $2,276,844. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,609 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $101.85, for a total transaction of $367,576.65. Following the completion of the transaction, the chief executive officer now owns 202,135 shares in the company, valued at approximately $20,587,449.75. The disclosure for this sale can be found here. Insiders sold a total of 33,609 shares of company stock worth $3,416,177 in the last quarter. 1.84% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Fort L.P. acquired a new stake in shares of Synopsys in the 2nd quarter valued at about $117,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Synopsys in the 2nd quarter valued at about $149,000. Advisor Partners LLC acquired a new stake in shares of Synopsys in the 2nd quarter valued at about $205,000. Checchi Capital Advisers LLC acquired a new stake in shares of Synopsys in the 2nd quarter valued at about $205,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Synopsys in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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