Synopsys, Inc. (NASDAQ:SNPS) Receives $649.82 Consensus Price Target from Analysts

Shares of Synopsys, Inc. (NASDAQ:SNPS) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $644.36.

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Piper Sandler reduced their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd.

Hedge Funds Weigh In On Synopsys

A number of institutional investors have recently added to or reduced their stakes in SNPS. Swedbank AB acquired a new stake in shares of Synopsys in the 1st quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys in the 3rd quarter valued at approximately $633,469,000. Sustainable Growth Advisers LP acquired a new position in Synopsys in the second quarter valued at approximately $572,050,000. Finally, Capital World Investors increased its stake in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.6 %

Shares of SNPS stock opened at $561.87 on Tuesday. The company has a market capitalization of $86.31 billion, a P/E ratio of 58.29, a P/E/G ratio of 3.45 and a beta of 1.08. Synopsys has a 12-month low of $457.52 and a 12-month high of $629.38. The business’s 50 day moving average is $522.05 and its two-hundred day moving average is $545.71.

About Synopsys

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.