Synopsys, Inc. (NASDAQ:SNPS) has earned a consensus rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $119.56.

A number of brokerages have recently weighed in on SNPS. Royal Bank of Canada boosted their price objective on shares of Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Synopsys in a research report on Wednesday, April 3rd. DA Davidson upped their price target on shares of Synopsys to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. KeyCorp initiated coverage on shares of Synopsys in a research report on Wednesday, April 10th. They set an “overweight” rating and a $135.00 price target for the company. Finally, BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 13th.

In other news, VP Sudhindra Kankanwadi sold 2,085 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $102.71, for a total value of $214,150.35. Following the sale, the vice president now directly owns 10,387 shares in the company, valued at approximately $1,066,848.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 85,105 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $102.20, for a total transaction of $8,697,731.00. Following the completion of the sale, the chief executive officer now owns 294,218 shares in the company, valued at $30,069,079.60. The disclosure for this sale can be found here. Insiders sold a total of 142,190 shares of company stock worth $14,729,218 over the last 90 days. Company insiders own 1.84% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Executive Wealth Management LLC acquired a new stake in Synopsys during the 4th quarter worth $29,000. Trust Co. of Vermont purchased a new position in Synopsys during the 4th quarter worth $29,000. Legacy Financial Advisors Inc. grew its position in Synopsys by 4,987.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 407 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 399 shares during the last quarter. Riverview Trust Co purchased a new position in Synopsys during the 4th quarter worth $35,000. Finally, Lindbrook Capital LLC purchased a new position in Synopsys during the 4th quarter worth $61,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Shares of SNPS stock traded down $0.57 during trading hours on Wednesday, reaching $117.62. 27,719 shares of the company’s stock were exchanged, compared to its average volume of 1,284,528. The company has a market cap of $17.62 billion, a PE ratio of 41.70, a PEG ratio of 3.76 and a beta of 1.30. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. Synopsys has a fifty-two week low of $79.14 and a fifty-two week high of $119.23.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.51. The business had revenue of $820.40 million for the quarter, compared to the consensus estimate of $796.30 million. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 earnings per share. On average, equities analysts forecast that Synopsys will post 3.13 earnings per share for the current year.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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