Shares of Synopsys Inc. (NASDAQ:SNPS) have been given an average rating of “Buy” by the eight research firms that are currently covering the stock. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $61.00.

A number of research firms have issued reports on SNPS. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Needham & Company LLC raised their price objective on shares of Synopsys from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. KeyCorp raised their price objective on shares of Synopsys from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, August 18th. Benchmark Co. raised their price objective on shares of Synopsys from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, DA Davidson raised their price objective on shares of Synopsys from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th.

In related news, Director Alfred Castino sold 10,000 shares of Synopsys stock in a transaction on Monday, September 12th. The shares were sold at an average price of $58.44, for a total value of $584,400.00. Following the sale, the director now owns 27,982 shares of the company’s stock, valued at approximately $1,635,268.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhindra Kankanwadi sold 3,409 shares of Synopsys stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $58.55, for a total transaction of $199,596.95. Following the completion of the sale, the vice president now directly owns 4,148 shares in the company, valued at approximately $242,865.40. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Zebra Capital Management LLC boosted its stake in shares of Synopsys by 30.5% in the first quarter. Zebra Capital Management LLC now owns 25,342 shares of the company’s stock valued at $1,228,000 after buying an additional 5,918 shares during the period. Credit Agricole S A boosted its stake in shares of Synopsys by 47.2% in the first quarter. Credit Agricole S A now owns 504,682 shares of the company’s stock valued at $24,447,000 after buying an additional 161,790 shares during the period. M&T Bank Corp boosted its stake in shares of Synopsys by 17.0% in the first quarter. M&T Bank Corp now owns 9,350 shares of the company’s stock valued at $453,000 after buying an additional 1,361 shares during the period. Menta Capital LLC boosted its stake in shares of Synopsys by 66.2% in the first quarter. Menta Capital LLC now owns 11,800 shares of the company’s stock valued at $572,000 after buying an additional 4,700 shares during the period. Finally, Mesirow Financial Investment Management US Value Equity acquired a new stake in shares of Synopsys during the first quarter valued at about $818,000. 91.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Synopsys (NASDAQ:SNPS) opened at 59.83 on Tuesday. The company’s 50-day moving average is $59.02 and its 200-day moving average is $53.31. The stock has a market cap of $9.05 billion, a P/E ratio of 38.16 and a beta of 0.89. Synopsys has a 1-year low of $39.26 and a 1-year high of $60.02.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Synopsys had a net margin of 10.27% and a return on equity of 12.15%. The company earned $615.20 million during the quarter, compared to analyst estimates of $602.89 million. During the same period last year, the firm posted $0.63 EPS. Synopsys’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts expect that Synopsys will post $3.02 EPS for the current fiscal year.

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.

5 Day Chart for NASDAQ:SNPS

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