Synopsys (NASDAQ:SNPS) PT Raised to $180.00 at JPMorgan Chase & Co.

Synopsys (NASDAQ:SNPS) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $160.00 to $180.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.20% from the company’s current price.

A number of other analysts also recently weighed in on SNPS. Royal Bank of Canada boosted their target price on shares of Synopsys from $178.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America restated a “buy” rating and issued a $170.00 target price on shares of Synopsys in a report on Wednesday, March 11th. Needham & Company LLC restated a “buy” rating and issued a $175.00 target price on shares of Synopsys in a report on Thursday, April 9th. Atlantic Securities began coverage on shares of Synopsys in a report on Tuesday, February 18th. They issued an “overweight” rating and a $200.00 target price on the stock. Finally, Robert W. Baird started coverage on shares of Synopsys in a report on Tuesday, February 18th. They issued an “outperform” rating and a $190.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $181.69.

Shares of Synopsys stock traded up $2.62 on Thursday, hitting $171.11. 975,349 shares of the company’s stock were exchanged, compared to its average volume of 991,832. The company has a 50-day simple moving average of $149.46 and a 200-day simple moving average of $142.90. The stock has a market capitalization of $25.36 billion, a PE ratio of 55.74, a PEG ratio of 3.01 and a beta of 1.14. Synopsys has a 1 year low of $104.90 and a 1 year high of $171.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.95.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.23. The company had revenue of $861.33 million for the quarter, compared to the consensus estimate of $836.52 million. Synopsys had a net margin of 13.96% and a return on equity of 11.53%. Synopsys’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. On average, analysts expect that Synopsys will post 3.79 EPS for the current fiscal year.

In other news, Director Bruce R. Chizen sold 25,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $153.63, for a total value of $3,840,750.00. Following the sale, the director now owns 13,165 shares in the company, valued at $2,022,538.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $127.43, for a total transaction of $637,150.00. Following the completion of the sale, the general counsel now owns 23,736 shares in the company, valued at approximately $3,024,678.48. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $5,886,250 in the last 90 days. 1.84% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its stake in shares of Synopsys by 4.1% in the fourth quarter. Fulton Bank N.A. now owns 1,662 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 65 shares during the period. Wetherby Asset Management Inc. boosted its holdings in Synopsys by 4.6% during the first quarter. Wetherby Asset Management Inc. now owns 1,594 shares of the semiconductor company’s stock worth $205,000 after buying an additional 70 shares in the last quarter. CLS Investments LLC boosted its holdings in Synopsys by 1.1% during the fourth quarter. CLS Investments LLC now owns 6,605 shares of the semiconductor company’s stock worth $919,000 after buying an additional 71 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Synopsys by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 23,329 shares of the semiconductor company’s stock worth $3,005,000 after buying an additional 80 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Synopsys by 7.3% during the fourth quarter. Signaturefd LLC now owns 1,202 shares of the semiconductor company’s stock worth $167,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.

Synopsys Company Profile

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.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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