Brokerages Set Synopsys, Inc. (NASDAQ:SNPS) Target Price at $641.82

Synopsys, Inc. (NASDAQ:SNPS) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $641.82.

Several research analysts have commented on SNPS shares. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Piper Sandler cut their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th.

Synopsys Price Performance

Synopsys stock opened at $523.88 on Friday. The firm has a market capitalization of $80.98 billion, a P/E ratio of 36.08, a PEG ratio of 3.44 and a beta of 1.12. Synopsys has a one year low of $457.52 and a one year high of $629.38. The business has a fifty day moving average price of $515.42 and a 200-day moving average price of $519.67.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Synopsys

A number of institutional investors have recently made changes to their positions in SNPS. Pacifica Partners Inc. bought a new position in Synopsys during the 3rd quarter worth approximately $25,000. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter worth approximately $27,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of 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 buying an additional 20 shares during the period. Finally, Sierra Ocean LLC bought a new stake in Synopsys during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.