Synopsys, Inc. (SNPS) Stock Rating Reaffirmed by DA Davidson
Synopsys, Inc. (NASDAQ:SNPS)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a note issued to investors on Friday. They presently have a $85.00 price objective on the semiconductor company’s stock, up from their previous price objective of $77.00. DA Davidson’s price target points to a potential upside of 19.84% from the stock’s previous close.
SNPS has been the topic of several other reports. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target (up from $77.00) on shares of Synopsys in a research report on Thursday. Pacific Crest reissued an “overweight” rating and set a $86.00 price target (up from $78.00) on shares of Synopsys in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $77.00 price target (up from $76.00) on shares of Synopsys in a research report on Thursday. Finally, Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Synopsys has a consensus rating of “Buy” and a consensus target price of $75.78.
Synopsys (NASDAQ:SNPS) opened at 70.99 on Friday. Synopsys has a 12 month low of $49.34 and a 12 month high of $75.34. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 39.66 and a beta of 0.87. The stock’s 50 day moving average is $72.85 and its 200-day moving average is $66.16.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The business had revenue of $680.07 million for the quarter, compared to analyst estimates of $672.40 million. Synopsys had a return on equity of 11.51% and a net margin of 11.01%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. On average, equities research analysts expect that Synopsys will post $3.28 earnings per share for the current year.
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In related news, CFO Trac Pham sold 39,899 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $71.24, for a total transaction of $2,842,404.76. Following the completion of the transaction, the chief financial officer now directly owns 12,158 shares in the company, valued at approximately $866,135.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven Walske sold 9,074 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $71.02, for a total value of $644,435.48. Following the transaction, the director now owns 17,080 shares of the company’s stock, valued at $1,213,021.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,973 shares of company stock valued at $4,334,280. 1.62% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Bank of Nova Scotia acquired a new position in Synopsys during the first quarter valued at about $2,487,000. Janus Capital Management LLC boosted its position in Synopsys by 20.2% in the first quarter. Janus Capital Management LLC now owns 998,524 shares of the semiconductor company’s stock valued at $72,023,000 after buying an additional 168,038 shares during the last quarter. Cypress Wealth Advisors LLC boosted its position in Synopsys by 1.7% in the first quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 81 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Synopsys by 101.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,216 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 1,116 shares during the last quarter. Finally, Oak Associates Ltd. OH boosted its position in Synopsys by 64.9% in the first quarter. Oak Associates Ltd. OH now owns 216,000 shares of the semiconductor company’s stock valued at $15,580,000 after buying an additional 85,000 shares during the last quarter. 89.96% of the stock is owned by institutional investors.
Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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