Synopsys (NASDAQ:SNPS) Coverage Initiated by Analysts at BNP Paribas

Equities research analysts at BNP Paribas started coverage on shares of Synopsys (NASDAQ:SNPS) in a report released on Thursday, MarketBeat.com reports. The firm set a “strong sell” rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Mizuho lowered their price objective on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. The Goldman Sachs Group lowered their price objective on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Wall Street Zen downgraded shares of Synopsys from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Needham & Company LLC lowered their price objective on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Finally, Morgan Stanley lowered their price objective on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Hold” and an average target price of $575.31.

Synopsys Stock Performance

Shares of Synopsys stock opened at $469.17 on Thursday. The firm has a market cap of $87.15 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 5.19 and a beta of 1.10. The firm’s 50-day simple moving average is $559.15 and its 200-day simple moving average is $509.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. Synopsys has a 1 year low of $365.74 and a 1 year high of $651.73.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were 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 owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the completion of the transaction, the chief accounting officer owned 20,520 shares of the company’s stock, valued at approximately $10,278,468. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,894 shares of company stock worth $16,760,783 in the last quarter. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Synopsys

A number of institutional investors have recently made changes to their positions in SNPS. Brighton Jones LLC lifted its stake in shares of Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after acquiring an additional 50 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Synopsys in the 1st quarter worth approximately $221,000. Pitti Group Wealth Management LLC lifted its stake in shares of Synopsys by 11.1% in the 1st quarter. Pitti Group Wealth Management LLC now owns 500 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 50 shares during the period. Evexia Wealth LLC lifted its stake in shares of Synopsys by 5.1% in the 1st quarter. Evexia Wealth LLC now owns 880 shares of the semiconductor company’s stock worth $377,000 after acquiring an additional 43 shares during the period. Finally, Gateway Investment Advisers LLC lifted its stake in shares of Synopsys by 25.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 111 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

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.