Research analysts at Credit Suisse Group AG began coverage on shares of Synopsys Inc. (NASDAQ:SNPS) in a report issued on Wednesday. The firm set an “outperform” rating on the stock.

SNPS has been the subject of several other research reports. Needham & Company LLC increased their target price on shares of Synopsys from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. DA Davidson reiterated a “buy” rating and issued a $75.00 target price (up previously from $64.00) on shares of Synopsys in a research note on Wednesday, October 12th. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, July 12th. Benchmark Co. increased their target price on shares of Synopsys from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 18th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $66.00 target price on shares of Synopsys in a research note on Saturday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Synopsys currently has an average rating of “Buy” and an average target price of $63.67.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

Synopsys (NASDAQ:SNPS) opened at 59.62 on Wednesday. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 38.02 and a beta of 0.89. Synopsys has a one year low of $39.26 and a one year high of $61.36. The company has a 50-day moving average price of $59.23 and a 200-day moving average price of $53.98.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $602.89 million. During the same period in the prior year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Synopsys will post $3.02 EPS for the current year.

In other news, Chairman Geus Aart De sold 306,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $58.39, for a total transaction of $17,867,340.00. Following the completion of the sale, the chairman now owns 159,791 shares of the company’s stock, valued at $9,330,196.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Brian M. Beattie sold 63,125 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $59.18, for a total transaction of $3,735,737.50. Following the sale, the executive vice president now directly owns 74,500 shares of the company’s stock, valued at approximately $4,408,910. The disclosure for this sale can be found here. Company insiders own 1.62% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. RS Investment Management Co. LLC raised its stake in Synopsys by 16.5% in the second quarter. RS Investment Management Co. LLC now owns 519,330 shares of the company’s stock valued at $28,085,000 after buying an additional 73,375 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Synopsys by 6.4% in the first quarter. Geode Capital Management LLC now owns 1,314,102 shares of the company’s stock worth $63,631,000 after buying an additional 79,273 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Synopsys by 7.2% in the second quarter. Fisher Asset Management LLC now owns 428,594 shares of the company’s stock worth $23,431,000 after buying an additional 28,818 shares in the last quarter. Prudential PLC raised its stake in shares of Synopsys by 13.3% in the first quarter. Prudential PLC now owns 8,500 shares of the company’s stock worth $412,000 after buying an additional 1,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Synopsys by 10.1% in the first quarter. Envestnet Asset Management Inc. now owns 55,228 shares of the company’s stock worth $2,675,000 after buying an additional 5,084 shares in the last quarter. 90.98% of the stock is owned by 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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