Synopsys, Inc. (NASDAQ:SNPS) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $618.31.

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Finally, KeyCorp decreased their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th.

Synopsys Price Performance

Shares of Synopsys stock traded up $21.43 during trading on Friday, reaching $434.83. 172,720 shares of the stock traded hands, compared to its average volume of 1,086,864. The company has a market capitalization of $67.23 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 3.23 and a beta of 1.23. The business has a fifty day simple moving average of $441.91 and a two-hundred day simple moving average of $493.85. Synopsys has a 52-week low of $365.74 and a 52-week high of $624.80.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new stake in Synopsys during the fourth quarter valued at about $27,000. Ameriflex Group Inc. acquired a new stake in Synopsys in the fourth quarter worth about $29,000. Whipplewood Advisors LLC acquired a new stake in Synopsys in the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys in the fourth quarter worth about $34,000. Finally, Sierra Ocean LLC acquired a new stake in Synopsys in the fourth quarter worth about $39,000. 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.