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

Synopsys, Inc. (NASDAQ:SNPS) has earned 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 recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $638.58.

A number of analysts have recently issued reports on SNPS shares. Morgan Stanley dropped 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, February 24th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Piper Sandler cut their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company’s stock, 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. In the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Synopsys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter worth about $27,000. Ameriflex Group Inc. purchased a new stake in Synopsys in the 4th quarter worth about $29,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $34,000. Finally, Sierra Ocean LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $39,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $437.95 on Monday. Synopsys has a 1-year low of $425.73 and a 1-year high of $624.80. The stock has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a fifty day moving average price of $485.62 and a 200-day moving average price of $505.27.

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.