Analysts Set Synopsys, Inc. (NASDAQ:SNPS) PT at $638.58

Shares of Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $638.58.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was 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 $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last quarter. Insiders own 0.62% of the company's stock.

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Institutional Trading of Synopsys

A number of institutional investors have recently bought and sold shares of the stock. Peloton Wealth Strategists lifted its stake in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock worth $1,459,000 after buying an additional 1,984 shares during the period. Nordea Investment Management AB raised its stake in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock worth $509,261,000 after acquiring an additional 143,284 shares during the last quarter. James Hambro & Partners LLP lifted its position in Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock worth $97,725,000 after acquiring an additional 47,527 shares during the period. Orion Portfolio Solutions LLC grew its stake in Synopsys by 53.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company's stock valued at $13,304,000 after purchasing an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after purchasing an additional 10,028 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 0.8 %

SNPS traded down $3.67 during trading on Monday, reaching $446.23. The company had a trading volume of 699,026 shares, compared to its average volume of 1,015,760. The business has a 50 day simple moving average of $488.79 and a 200-day simple moving average of $505.87. The stock has a market cap of $69.00 billion, a P/E ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. Synopsys has a 52 week low of $425.73 and a 52 week high of $624.80.

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.