Synopsys Inc. (NASDAQ:SNPS)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research report issued on Wednesday. They currently have a $75.00 target price on the stock, up from their previous target price of $64.00. DA Davidson’s price objective would indicate a potential upside of 25.90% from the stock’s previous close.

SNPS has been the subject of a number of other reports. Needham & Company LLC boosted their price target on shares of Synopsys from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Benchmark Co. upped their target price on shares of Synopsys from $50.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 18th. KeyCorp upped their target price on shares of Synopsys from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Pacific Crest upped their target price on shares of Synopsys from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Finally, Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $62.38.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

Shares of Synopsys (NASDAQ:SNPS) traded down 0.17% during trading on Wednesday, reaching $59.47. The company had a trading volume of 51,683 shares. The firm has a market capitalization of $9.00 billion, a PE ratio of 37.93 and a beta of 0.89. The firm has a 50-day moving average of $59.13 and a 200 day moving average of $53.61. Synopsys has a 1-year low of $39.26 and a 1-year high of $61.36.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.76 earnings per share for the quarter, beating 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 firm earned $615.20 million during the quarter, compared to analysts’ expectations of $602.89 million. During the same period in the previous year, the company earned $0.63 earnings per share. Synopsys’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts expect that Synopsys will post $3.02 earnings per share for the current year.

In related news, Director Alfred Castino sold 10,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $58.44, for a total transaction of $584,400.00. Following the completion of the transaction, the director now directly owns 27,982 shares of the company’s stock, valued at $1,635,268.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Geus Aart De sold 306,000 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $58.39, for a total transaction of $17,867,340.00. Following the transaction, the chairman now directly owns 159,791 shares of the company’s stock, valued at $9,330,196.49. The disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Numeric Investors LLC raised its position in shares of Synopsys by 316.3% in the second quarter. Numeric Investors LLC now owns 1,009,981 shares of the company’s stock valued at $54,620,000 after buying an additional 767,356 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Synopsys by 8.5% in the second quarter. BlackRock Fund Advisors now owns 8,114,931 shares of the company’s stock valued at $438,855,000 after buying an additional 638,798 shares during the last quarter. Columbia Wanger Asset Management LLC bought a new position in shares of Synopsys during the second quarter valued at $33,099,000. Emerald Acquisition Ltd. bought a new position in shares of Synopsys during the second quarter valued at $32,777,000. Finally, Pictet Asset Management Ltd. raised its position in shares of Synopsys by 188.8% in the second quarter. Pictet Asset Management Ltd. now owns 850,862 shares of the company’s stock valued at $43,964,000 after buying an additional 556,265 shares during the last quarter. 91.01% of the stock is owned by hedge funds and other institutional investors.

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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