Synopsys’ (SNPS) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Synopsys (NASDAQ:SNPS) in a research note issued to investors on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a $615.00 price target on the semiconductor company’s stock.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reiterated a buy rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler initiated coverage on Synopsys in a report on Thursday, April 4th. They set an overweight rating and a $665.00 price target on the stock. StockNews.com raised Synopsys from a hold rating to a buy rating in a research report on Monday, March 18th. Finally, Robert W. Baird raised their target price on Synopsys from $624.00 to $640.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $616.18.

Synopsys Trading Up 0.2 %

Shares of Synopsys stock opened at $587.40 on Thursday. The company has a market capitalization of $89.58 billion, a P/E ratio of 63.85, a price-to-earnings-growth ratio of 3.43 and a beta of 1.07. The stock has a fifty day simple moving average of $558.67 and a 200 day simple moving average of $547.57. Synopsys has a 12-month low of $409.83 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. Synopsys’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 earnings per share. On average, analysts predict that Synopsys will post 9.78 EPS for the current year.

Insider Activity at Synopsys

In other Synopsys news, Director Marc N. Casper bought 750 shares of Synopsys stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the purchase, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc N. Casper bought 750 shares of Synopsys stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synopsys

Several hedge funds have recently bought and sold shares of SNPS. Private Advisor Group LLC grew its position in shares of Synopsys by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 4,166 shares of the semiconductor company’s stock valued at $1,912,000 after purchasing an additional 66 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Synopsys by 2.4% in the 3rd quarter. Corient Private Wealth LLC now owns 88,888 shares of the semiconductor company’s stock valued at $40,798,000 after acquiring an additional 2,083 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Synopsys by 11.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 487 shares of the semiconductor company’s stock valued at $224,000 after acquiring an additional 51 shares during the last quarter. Syon Capital LLC purchased a new position in shares of Synopsys during the third quarter worth about $510,000. Finally, NBC Securities Inc. bought a new position in shares of Synopsys in the third quarter worth approximately $828,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Company Profile

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.