Redburn Atlantic Begins Coverage on Synopsys (NASDAQ:SNPS)

Redburn Atlantic began coverage on shares of Synopsys (NASDAQ:SNPS - Free Report) in a report released on Monday, Marketbeat reports. The brokerage issued a buy rating and a $600.00 price objective on the semiconductor company's stock.

Other equities research analysts also recently issued reports about the company. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price target for the company. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price on the stock. Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Wells Fargo & Company began coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an "equal weight" rating and a $570.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and an average target price of $641.82.

Synopsys Stock Performance

NASDAQ:SNPS traded down $5.11 during mid-day trading on Monday, hitting $487.43. The company had a trading volume of 890,831 shares, compared to its average volume of 1,018,390. Synopsys has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market cap of $75.35 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.41 and a beta of 1.12. The business's fifty day moving average is $523.58 and its two-hundred day moving average is $528.92.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently modified their holdings of the company. Pacifica Partners Inc. acquired a new position in shares of Synopsys in the 3rd quarter valued at about $25,000. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $27,000. Tsfg LLC boosted its holdings in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at $44,000. 85.47% of the stock is owned by institutional investors.

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.