Synopsys (NASDAQ:SNPS) Coverage Initiated by Analysts at Mizuho

Stock analysts at Mizuho initiated coverage on shares of Synopsys (NASDAQ:SNPS - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $650.00 price target on the semiconductor company's stock. Mizuho's price objective suggests a potential upside of 29.38% from the stock's previous close.

SNPS has been the subject of a number of other research reports. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a "buy" rating and a $660.00 target price for the company. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an "overweight" rating in a research note on Thursday, June 27th. Rosenblatt Securities restated a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has an average rating of "Buy" and a consensus price target of $644.55.

Synopsys Stock Down 0.6 %

Shares of NASDAQ SNPS traded down $3.18 during midday trading on Tuesday, hitting $502.41. The stock had a trading volume of 770,056 shares, compared to its average volume of 1,077,703. Synopsys has a 1-year low of $448.91 and a 1-year high of $629.38. The company has a market capitalization of $77.18 billion, a price-to-earnings ratio of 52.12, a PEG ratio of 3.47 and a beta of 1.08. The company has a fifty day moving average price of $511.19 and a 200 day moving average price of $546.60.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $2.17 EPS. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts forecast that Synopsys will post 9.45 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Institutional Trading of Synopsys

Several hedge funds have recently made changes to their positions in SNPS. Greenleaf Trust grew its holdings in Synopsys by 19.2% in the 3rd quarter. Greenleaf Trust now owns 6,343 shares of the semiconductor company's stock worth $3,212,000 after buying an additional 1,023 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Synopsys by 31.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,032 shares of the semiconductor company's stock worth $523,000 after purchasing an additional 245 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Synopsys during the third quarter valued at $2,570,000. RBA Wealth Management LLC raised its stake in shares of Synopsys by 2.5% during the third quarter. RBA Wealth Management LLC now owns 11,126 shares of the semiconductor company's stock valued at $5,634,000 after purchasing an additional 268 shares in the last quarter. Finally, Waldron Private Wealth LLC lifted its holdings in Synopsys by 215.7% in the third quarter. Waldron Private Wealth LLC now owns 1,544 shares of the semiconductor company's stock worth $782,000 after purchasing an additional 1,055 shares during the period. Institutional investors 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.