Synopsys (NASDAQ:SNPS) Receives “Neutral” Rating from Rosenblatt Securities

Synopsys (NASDAQ:SNPS)‘s stock had its “neutral” rating reiterated by research analysts at Rosenblatt Securities in a research report issued on Wednesday, MarketBeat reports. They presently have a $605.00 target price on the semiconductor company’s stock, down from their previous target price of $650.00. Rosenblatt Securities’ price objective indicates a potential upside of 0.10% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Bank of America boosted their price target on Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. decreased their target price on Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and set a $535.00 target price (down previously from $670.00) on shares of Synopsys in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $715.00 target price (up previously from $540.00) on shares of Synopsys in a research report on Monday, August 11th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $610.33.

Synopsys Trading Down 0.8%

Shares of NASDAQ SNPS opened at $604.37 on Wednesday. The stock has a market cap of $93.77 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 4.00 and a beta of 1.14. The business has a 50 day simple moving average of $597.69 and a 200 day simple moving average of $507.82. Synopsys has a 52 week low of $365.74 and a 52 week high of $651.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer directly owned 71,615 shares of the company’s stock, valued at $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the transaction, the chief financial officer directly owned 15,317 shares of the company’s stock, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,031 shares of company stock valued at $13,168,999. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Centaurus Financial Inc. lifted its position in Synopsys by 22.5% in the second quarter. Centaurus Financial Inc. now owns 1,334 shares of the semiconductor company’s stock worth $684,000 after purchasing an additional 245 shares during the period. Orion Porfolio Solutions LLC raised its stake in Synopsys by 1.2% during the second quarter. Orion Porfolio Solutions LLC now owns 25,706 shares of the semiconductor company’s stock worth $13,179,000 after acquiring an additional 307 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Synopsys by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 6,933 shares of the semiconductor company’s stock worth $3,549,000 after acquiring an additional 90 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in Synopsys during the second quarter worth $2,477,000. Finally, Stance Capital LLC acquired a new position in Synopsys during the second quarter worth $1,393,000. 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.