TheStreet lowered shares of Synopsys (NASDAQ:SNPS) from an a rating to a c+ rating in a report issued on Wednesday.

A number of other equities analysts also recently issued reports on SNPS. Credit Suisse Group reiterated a positive rating and set a $90.00 price target (up previously from $82.00) on shares of Synopsys in a research report on Tuesday, August 15th. BidaskClub upgraded Synopsys from a buy rating to a strong-buy rating in a research report on Thursday, August 17th. 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. Royal Bank Of Canada raised their target price on Synopsys from $85.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research upgraded Synopsys from a hold rating to a buy rating and set a $86.00 target price on the stock in a research report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $98.13.

Synopsys (SNPS) opened at $90.32 on Wednesday. The stock has a market capitalization of $13,597.22, a P/E ratio of 74.08, a price-to-earnings-growth ratio of 4.11 and a beta of 1.01. The company has a current ratio of 1.04, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Synopsys has a 1 year low of $56.03 and a 1 year high of $94.80.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. The company had revenue of $696.60 million for the quarter, compared to the consensus estimate of $650.72 million. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. Synopsys’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. equities analysts forecast that Synopsys will post 2.41 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in shares of Synopsys by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the semiconductor company’s stock valued at $678,000 after purchasing an additional 100 shares during the last quarter. Hartford Investment Management Co. increased its holdings in shares of Synopsys by 0.6% in the second quarter. Hartford Investment Management Co. now owns 34,789 shares of the semiconductor company’s stock valued at $2,537,000 after purchasing an additional 208 shares during the last quarter. Strs Ohio increased its holdings in shares of Synopsys by 24.3% in the second quarter. Strs Ohio now owns 19,275 shares of the semiconductor company’s stock valued at $1,405,000 after purchasing an additional 3,768 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Synopsys by 292.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 19,170 shares of the semiconductor company’s stock valued at $1,398,000 after purchasing an additional 14,290 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its holdings in shares of Synopsys by 1.7% in the second quarter. Bbva Compass Bancshares Inc. now owns 15,862 shares of the semiconductor company’s stock valued at $1,157,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 89.96% 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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