Synopsys (NASDAQ:SNPS) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.
Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. DA Davidson lifted their price objective on shares of Synopsys to $155.00 and gave the stock a “positive” rating in a report on Thursday, August 22nd. Zacks Investment Research raised shares of Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective on the stock in a report on Monday, August 26th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $160.00 price objective (up from $150.00) on shares of Synopsys in a report on Thursday, August 22nd. Finally, Bank of America initiated coverage on shares of Synopsys in a report on Monday, September 23rd. They set a “buy” rating and a $171.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Synopsys presently has an average rating of “Buy” and a consensus price target of $145.64.
Shares of SNPS stock opened at $134.95 on Friday. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 47.85, a price-to-earnings-growth ratio of 3.62 and a beta of 1.21. Synopsys has a 52 week low of $79.14 and a 52 week high of $146.66. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $138.17 and a 200-day moving average of $128.72.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $853.00 million during the quarter, compared to the consensus estimate of $831.03 million. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. Synopsys’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Analysts anticipate that Synopsys will post 3.15 earnings per share for the current year.
In other news, VP Sudhindra Kankanwadi sold 8,011 shares of Synopsys stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the sale, the vice president now directly owns 8,663 shares in the company, valued at approximately $1,250,070.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chi-Foon Chan sold 4,578 shares of Synopsys stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $137.14, for a total value of $627,826.92. Following the sale, the chief executive officer now owns 199,539 shares in the company, valued at $27,364,778.46. The disclosure for this sale can be found here. Insiders have sold a total of 22,589 shares of company stock worth $3,158,514 over the last quarter. Company insiders own 1.84% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Sigma Investment Counselors Inc. raised its stake in Synopsys by 0.7% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 43,514 shares of the semiconductor company’s stock valued at $5,972,000 after acquiring an additional 315 shares during the period. Tuttle Tactical Management bought a new stake in Synopsys in the 3rd quarter valued at about $2,820,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Synopsys by 13.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,039 shares of the semiconductor company’s stock valued at $4,672,000 after acquiring an additional 4,103 shares during the period. Park Avenue Securities LLC bought a new stake in Synopsys in the 3rd quarter valued at about $289,000. Finally, Wedbush Securities Inc. raised its stake in Synopsys by 2.9% in the 3rd quarter. Wedbush Securities Inc. now owns 7,541 shares of the semiconductor company’s stock valued at $1,035,000 after acquiring an additional 213 shares during the period. Institutional investors own 89.40% of the company’s stock.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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