Synopsys (NASDAQ:SNPS) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other research analysts have also issued research reports about the company. Royal Bank of Canada boosted their price objective on Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. J P Morgan Chase & Co lowered Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price objective for the company. in a report on Tuesday, December 12th. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Monday, August 21st. Needham & Company LLC restated a “buy” rating and issued a $83.00 target price (up previously from $77.00) on shares of Synopsys in a research report on Thursday, August 17th. Finally, KeyCorp restated an “overweight” rating and issued a $106.00 target price (up previously from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Synopsys presently has a consensus rating of “Hold” and a consensus target price of $96.89.

Shares of Synopsys (NASDAQ:SNPS) traded down $0.12 during midday trading on Tuesday, hitting $87.86. The stock had a trading volume of 6,098,078 shares, compared to its average volume of 1,167,877. Synopsys has a 52 week low of $58.74 and a 52 week high of $94.80. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $13,066.01, a price-to-earnings ratio of 72.02, a price-to-earnings-growth ratio of 4.29 and a beta of 1.01.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The company had revenue of $696.60 million during the quarter, compared to analyst estimates of $650.72 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Synopsys’s revenue was up 9.9% on a year-over-year basis. analysts anticipate that Synopsys will post 2.24 EPS for the current year.

In related news, Director Chrysostomos L. Nikias sold 21,074 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $89.78, for a total value of $1,892,023.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $90.33, for a total value of $451,650.00. The disclosure for this sale can be found here. Insiders sold a total of 29,824 shares of company stock valued at $2,680,349 in the last 90 days. 1.82% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. 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 last quarter. 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 last quarter. YorkBridge Wealth Partners LLC lifted its position in Synopsys by 3.7% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 55 shares during the last quarter. Advisor Group Inc. lifted its position in Synopsys by 14.3% in the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after purchasing an additional 327 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in Synopsys in the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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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.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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