Synopsys (NASDAQ:SNPS) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Synopsys (NASDAQ:SNPS) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $650.00 target price on the semiconductor company’s stock.

SNPS has been the topic of several other research reports. Wells Fargo & Company lowered their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday. Redburn Atlantic started coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday. Piper Sandler lowered their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Down 3.3 %

Shares of NASDAQ:SNPS opened at $454.71 on Thursday. The firm’s 50 day moving average price is $506.84 and its 200-day moving average price is $516.13. Synopsys has a twelve month low of $454.05 and a twelve month high of $624.80. The stock has a market capitalization of $70.29 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Synopsys

Large investors have recently bought and sold shares of the business. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth $27,000. Ameriflex Group Inc. bought a new position in Synopsys during the fourth quarter valued at $29,000. Whipplewood Advisors LLC bought a new position in Synopsys during the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys during the fourth quarter valued at $34,000. Finally, Hazlett Burt & Watson Inc. increased its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

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.