Synopsys, Inc. (NASDAQ:SNPS)‘s stock had its “average” rating reiterated by research analysts at HSBC Holdings plc in a research report issued on Thursday, The Fly reports.

A number of other analysts have also weighed in on SNPS. Needham & Company LLC restated a “buy” rating and issued a $77.00 target price (up from $76.00) on shares of Synopsys in a research note on Thursday, May 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a research note on Thursday, May 18th. Pacific Crest restated an “overweight” rating and issued a $86.00 target price (up from $78.00) on shares of Synopsys in a research note on Friday, May 19th. DA Davidson restated a “buy” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, Bank of America Corporation restated a “buy” rating and issued a $87.00 target price (up from $80.00) on shares of Synopsys in a research note on Friday, May 19th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $83.38.

Synopsys (NASDAQ SNPS) traded down 0.51% during midday trading on Thursday, reaching $79.80. 1,376,201 shares of the company traded hands. The company has a 50-day moving average price of $78.22 and a 200-day moving average price of $74.52. Synopsys has a 12-month low of $56.03 and a 12-month high of $80.70. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 37.46 and a beta of 0.99.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.92. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The company had revenue of $695.40 million during the quarter, compared to analyst estimates of $691.22 million. During the same period last year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Synopsys will post $3.31 earnings per share for the current fiscal year.

Synopsys announced that its Board of Directors has approved a share buyback program on Friday, June 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $77.50, for a total transaction of $290,625.00. Following the transaction, the chief executive officer now owns 200,429 shares in the company, valued at $15,533,247.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.99, for a total value of $384,950.00. Following the transaction, the executive vice president now owns 63,793 shares in the company, 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.

A number of institutional investors and hedge funds have recently modified their holdings of SNPS. Strs Ohio boosted its holdings in Synopsys by 9.7% during the first quarter. Strs Ohio now owns 15,507 shares of the semiconductor company’s stock worth $1,118,000 after buying an additional 1,369 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in Synopsys by 22.3% during the first quarter. Suntrust Banks Inc. now owns 13,080 shares of the semiconductor company’s stock worth $942,000 after buying an additional 2,387 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Synopsys by 6.2% during the first quarter. UBS Asset Management Americas Inc. now owns 646,478 shares of the semiconductor company’s stock worth $46,630,000 after buying an additional 37,649 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Synopsys by 2,998.4% during the first quarter. Toronto Dominion Bank now owns 40,651 shares of the semiconductor company’s stock worth $2,931,000 after buying an additional 39,339 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Synopsys by 79.4% during the first quarter. Parametric Portfolio Associates LLC now owns 431,666 shares of the semiconductor company’s stock worth $31,136,000 after buying an additional 191,074 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.

The Fly

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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