Synopsys’ (SNPS) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Synopsys (NASDAQ:SNPS) in a research report sent to investors on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a $615.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on SNPS. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an overweight rating and a $665.00 price objective on the stock. StockNews.com upgraded shares of Synopsys from a hold rating to a buy rating in a research report on Monday, March 18th. Needham & Company LLC restated a buy rating and issued a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Finally, Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $616.18.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $587.40 on Thursday. The company’s 50 day simple moving average is $558.67 and its 200 day simple moving average is $547.28. The stock has a market capitalization of $89.58 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. Synopsys has a 1 year low of $409.83 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $1.76 earnings per share. As a group, analysts anticipate that Synopsys will post 9.78 EPS for the current fiscal year.

Insider Transactions at Synopsys

In other news, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synopsys

Hedge funds have recently modified their holdings of the business. Bay Harbor Wealth Management LLC acquired a new position in Synopsys in the first quarter valued at $26,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys in the fourth quarter valued at $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Synopsys in the third quarter valued at $29,000. Jones Financial Companies Lllp lifted its holdings in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the period. Finally, Activest Wealth Management acquired a new position in Synopsys in the first quarter valued at $35,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.