Research Analysts’ Weekly Ratings Changes for Synopsys (SNPS)

Several brokerages have updated their recommendations and price targets on shares of Synopsys (NASDAQ: SNPS) in the last few weeks:

• 8/23/2024 – Synopsys had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $635.00 price target on the stock.
• 8/22/2024 – Synopsys had its price target raised by analysts at JPMorgan Chase & Co. from $655.00 to $685.00. They now have an “overweight” rating on the stock.
• 8/22/2024 – Synopsys had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $687.00 price target on the stock.
• 8/22/2024 – Synopsys had its price target raised by analysts at Robert W. Baird from $661.00 to $663.00. They now have an “outperform” rating on the stock.
• 8/22/2024 – Synopsys had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $640.00 price target on the stock.
• 8/15/2024 – Synopsys had its price target raised by analysts at Rosenblatt Securities from $615.00 to $635.00. They now have a “buy” rating on the stock.

Synopsys Price Performance

SNPS stock opened at $464.16 on Tuesday. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38. The firm has a market capitalization of $71.30 billion, a P/E ratio of 50.45, a P/E/G ratio of 3.06 and a beta of 1.08. The business’s 50-day moving average is $547.30 and its two-hundred day moving average is $561.82.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. On average, analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last three months, insiders sold 73,687 shares of company stock valued at $44,616,637. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Synopsys

A number of hedge funds and other institutional investors have recently bought and sold shares of SNPS. Sanctuary Advisors LLC acquired a new stake in Synopsys in the 2nd quarter valued at about $7,001,000. Sycomore Asset Management grew its position in shares of Synopsys by 86.7% in the second quarter. Sycomore Asset Management now owns 17,748 shares of the semiconductor company’s stock valued at $10,623,000 after purchasing an additional 8,240 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Synopsys during the 2nd quarter worth approximately $783,000. Clearbridge Investments LLC raised its position in shares of Synopsys by 10.8% during the 2nd quarter. Clearbridge Investments LLC now owns 226,773 shares of the semiconductor company’s stock worth $134,944,000 after purchasing an additional 22,096 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Synopsys by 65.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 20,561 shares of the semiconductor company’s stock valued at $12,235,000 after buying an additional 8,100 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

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.