Synopsys, Inc. (SNPS) Given Average Recommendation of “Buy” by Analysts
Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned a consensus recommendation of “Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $81.83.
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $77.00 target price (up previously from $76.00) on shares of Synopsys in a research note on Thursday, May 18th. Royal Bank Of Canada increased their target price on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Monday, August 21st. Finally, Pacific Crest reiterated an “overweight” rating and set a $86.00 target price (up previously from $78.00) on shares of Synopsys in a research note on Friday, May 19th.
In related news, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $77.50, for a total value of $290,625.00. Following the completion of the sale, the chief executive officer now owns 200,429 shares in the company, valued at $15,533,247.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.99, for a total transaction of $384,950.00. Following the completion of the sale, the executive vice president now owns 63,793 shares of the company’s stock, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. lifted its position in Synopsys by 11.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 147 shares during the period. IFP Advisors Inc lifted its position in Synopsys by 40.4% in the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 415 shares during the period. YorkBridge Wealth Partners LLC lifted its position in Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 92 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in Synopsys in the first quarter valued at about $121,000. Finally, Robecosam AG lifted its position in Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.
Shares of Synopsys (SNPS) traded down 0.04% during midday trading on Tuesday, hitting $79.57. The company had a trading volume of 928,272 shares. The company has a 50-day moving average of $77.86 and a 200-day moving average of $74.34. The company has a market capitalization of $11.96 billion, a PE ratio of 37.36 and a beta of 0.99. Synopsys has a 12 month low of $56.03 and a 12 month high of $80.70.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. Analysts predict that Synopsys will post $3.31 earnings per share for the current year.
Synopsys announced that its Board of Directors has approved a share buyback plan on Friday, June 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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