Synopsys (NASDAQ:SNPS) had its price target lifted by DA Davidson to $155.00 in a report published on Thursday, The Fly reports. DA Davidson currently has a positive rating on the semiconductor company’s stock.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC increased their target price on shares of Synopsys from $125.00 to $145.00 and gave the stock a buy rating in a research note on Thursday. Wells Fargo & Co reissued an outperform rating and set a $160.00 target price (up from $150.00) on shares of Synopsys in a research note on Thursday. Zacks Investment Research lowered shares of Synopsys from a hold rating to a sell rating and set a $143.00 target price on the stock. in a research note on Wednesday, July 24th. Bank of America reissued an average rating on shares of Synopsys in a research note on Wednesday, June 5th. Finally, BidaskClub lowered shares of Synopsys from a buy rating to a hold rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $137.30.

Shares of SNPS opened at $135.05 on Thursday. The business’s 50-day moving average is $133.42 and its two-hundred day moving average is $119.60. The company has a market capitalization of $19.76 billion, a P/E ratio of 47.89, a P/E/G ratio of 3.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.95. Synopsys has a fifty-two week low of $79.14 and a fifty-two week high of $142.00.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. Synopsys had a return on equity of 16.79% and a net margin of 18.94%. The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. During the same period last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts forecast that Synopsys will post 3.19 EPS for the current year.

In related news, Director Roy Vallee sold 11,243 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $129.21, for a total value of $1,452,708.03. Following the transaction, the director now directly owns 52,641 shares of the company’s stock, valued at approximately $6,801,743.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sudhindra Kankanwadi sold 3,133 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $121.88, for a total transaction of $381,850.04. Following the completion of the transaction, the vice president now directly owns 8,416 shares in the company, valued at $1,025,742.08. The disclosure for this sale can be found here. Insiders sold a total of 34,925 shares of company stock worth $4,471,565 over the last ninety days. 1.84% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SNPS. Nuveen Asset Management LLC lifted its stake in Synopsys by 4,054.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,958,501 shares of the semiconductor company’s stock valued at $252,039,000 after buying an additional 1,911,360 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Synopsys by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock valued at $607,189,000 after buying an additional 1,513,575 shares in the last quarter. Egerton Capital UK LLP lifted its stake in Synopsys by 142.3% in the 1st quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock valued at $253,271,000 after buying an additional 1,291,643 shares in the last quarter. Invesco Ltd. lifted its stake in Synopsys by 33.9% in the 2nd quarter. Invesco Ltd. now owns 3,505,038 shares of the semiconductor company’s stock valued at $451,061,000 after buying an additional 888,033 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Synopsys by 4.5% in the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock valued at $1,658,997,000 after buying an additional 554,602 shares in the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Company Profile

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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