Shares of Synopsys, Inc. (NASDAQ:SNPS) have received an average recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $80.63.

A number of equities analysts have recently commented on SNPS shares. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. BidaskClub cut shares of Synopsys from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Pacific Crest reaffirmed an “overweight” rating and issued a $86.00 target price (up from $78.00) on shares of Synopsys in a report on Friday, May 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $77.00 target price (up from $76.00) on shares of Synopsys in a report on Thursday, May 18th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a report on Friday, May 19th.

A number of institutional investors have recently made changes to their positions in SNPS. Credit Suisse AG boosted its position in shares of Synopsys by 14.4% in the first quarter. Credit Suisse AG now owns 399,430 shares of the semiconductor company’s stock valued at $28,810,000 after buying an additional 50,214 shares in the last quarter. Shelton Capital Management bought a new position in Synopsys during the first quarter worth $821,000. Origin Asset Management LLP boosted its position in Synopsys by 6.1% in the first quarter. Origin Asset Management LLP now owns 300,383 shares of the semiconductor company’s stock worth $21,667,000 after buying an additional 17,183 shares during the period. ING Groep NV bought a new position in Synopsys during the first quarter worth $555,000. Finally, Morgan Stanley boosted its position in Synopsys by 155.6% in the first quarter. Morgan Stanley now owns 1,081,104 shares of the semiconductor company’s stock worth $77,979,000 after buying an additional 658,199 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Shares of Synopsys (SNPS) traded up 0.60% on Friday, reaching $77.22. 1,174,012 shares of the company’s stock were exchanged. The firm has a market capitalization of $11.60 billion, a P/E ratio of 36.25 and a beta of 1.02. Synopsys has a one year low of $56.03 and a one year high of $79.66. The firm has a 50 day moving average of $75.62 and a 200 day moving average of $72.77.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.71%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, equities research analysts predict that Synopsys will post $3.28 EPS for the current year.

Synopsys declared that its Board of Directors has initiated a stock repurchase plan on Friday, June 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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About Synopsys

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.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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