Synopsys’ (SNPS) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Synopsys (NASDAQ:SNPS) in a research note released on Tuesday morning,Benzinga reports. They currently have a $660.00 price objective on the semiconductor company’s stock.

SNPS has been the subject of several other research reports. Piper Sandler decreased their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Performance

SNPS opened at $454.71 on Tuesday. The company has a market capitalization of $70.29 billion, a P/E ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12. Synopsys has a 1-year low of $454.05 and a 1-year high of $624.80. The company has a 50-day moving average of $506.84 and a 200-day moving average of $516.13.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Capital Management LLC grew its position in Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock worth $408,000 after acquiring an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares in the last quarter. Finally, Edge Capital Group LLC increased its position in Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

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.