Synopsys (NASDAQ:SNPS) Price Target Raised to $690.00 at KeyCorp

Synopsys (NASDAQ:SNPS) had its target price lifted by KeyCorp from $675.00 to $690.00 in a research note published on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their target price on Synopsys from $650.00 to $655.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. StockNews.com raised Synopsys from a hold rating to a buy rating in a research report on Monday, March 18th. Robert W. Baird upped their price objective on Synopsys from $640.00 to $645.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. Finally, Piper Sandler restated an overweight rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $624.36.

Synopsys Trading Down 0.6 %

Shares of NASDAQ SNPS opened at $595.00 on Thursday. Synopsys has a 1 year low of $418.51 and a 1 year high of $629.38. The firm’s 50-day moving average is $566.70 and its 200-day moving average is $555.92. The firm has a market capitalization of $91.17 billion, a PE ratio of 64.67, a price-to-earnings-growth ratio of 3.86 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Synopsys will post 9.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 4,212 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold a total of 27,500 shares of company stock valued at $16,054,895 in the last three months. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of Synopsys

Large investors have recently modified their holdings of the stock. Bay Harbor Wealth Management LLC bought a new position in Synopsys in the 1st quarter valued at about $26,000. University of Texas Texas AM Investment Managment Co. bought a new position in Synopsys in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its position in Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Activest Wealth Management bought a new stake in Synopsys during the first quarter worth $35,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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.