Shares of Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $638.58.
Several analysts recently weighed in on the company. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th.
Check Out Our Latest Research Report on SNPS
Shares of NASDAQ SNPS opened at $448.60 on Monday. The firm has a market cap of $69.36 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16. Synopsys has a 1 year low of $425.73 and a 1 year high of $624.80. The stock's 50-day simple moving average is $491.19 and its 200-day simple moving average is $506.44.
In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fairtree Asset Management Pty Ltd acquired a new stake in Synopsys in the fourth quarter worth approximately $913,000. DSG Capital Advisors LLC acquired a new stake in Synopsys in the fourth quarter worth approximately $1,673,000. 111 Capital acquired a new stake in Synopsys in the fourth quarter worth approximately $1,263,000. Wealth Enhancement Advisory Services LLC lifted its position in Synopsys by 4.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,517 shares of the semiconductor company's stock worth $9,473,000 after purchasing an additional 783 shares during the period. Finally, Centaurus Financial Inc. lifted its position in Synopsys by 24.7% in the fourth quarter. Centaurus Financial Inc. now owns 561 shares of the semiconductor company's stock worth $272,000 after purchasing an additional 111 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.
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.
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