Synopsys, Inc. (SNPS) Given Average Rating at JPMorgan Chase & Co.
Synopsys, Inc. (NASDAQ:SNPS)‘s stock had its “average” rating reissued by equities researchers at JPMorgan Chase & Co. in a note issued to investors on Friday, The Fly reports.
Other equities analysts also recently issued reports about the stock. Bank of America Corp restated a “buy” rating and set a $87.00 target price (up from $80.00) on shares of Synopsys in a report on Friday, May 19th. DA Davidson restated a “buy” rating and set a $85.00 target price (up from $77.00) on shares of Synopsys in a report on Friday, May 19th. Needham & Company LLC raised their target price on shares of Synopsys from $66.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $77.00 target price on shares of Synopsys in a report on Tuesday, March 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $75.78.
Synopsys (NASDAQ:SNPS) opened at 73.53 on Friday. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 41.08 and a beta of 0.87. Synopsys has a 52-week low of $50.67 and a 52-week high of $75.34. The company’s 50-day moving average is $72.96 and its 200-day moving average is $66.59.
Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Synopsys had a net margin of 11.01% and a return on equity of 11.51%. The firm had revenue of $680.07 million during the quarter, compared to the consensus estimate of $672.40 million. During the same period last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts predict that Synopsys will post $3.28 earnings per share for the current year.
In other news, Chairman Geus Aart De sold 264,000 shares of Synopsys stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $71.01, for a total transaction of $18,746,640.00. Following the completion of the sale, the chairman now directly owns 220,133 shares in the company, valued at $15,631,644.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $70.96, for a total transaction of $266,100.00. Following the sale, the chief executive officer now owns 204,179 shares of the company’s stock, valued at $14,488,541.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,246 shares of company stock valued at $21,608,505. Insiders own 1.62% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SNPS. Achmea Investment Management B.V. bought a new stake in Synopsys during the first quarter valued at about $3,426,000. Bank of Nova Scotia bought a new stake in Synopsys during the first quarter valued at about $2,487,000. Janus Capital Management LLC boosted its stake 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 in the last quarter. Cypress Wealth Advisors LLC boosted its stake 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 in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake 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 in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.
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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