Synopsys (NASDAQ:SNPS) Now Covered by Redburn Atlantic

Analysts at Redburn Atlantic began coverage on shares of Synopsys (NASDAQ:SNPS) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $600.00 price target on the semiconductor company’s stock. Redburn Atlantic’s price objective would suggest a potential upside of 21.82% from the stock’s current price.

A number of other brokerages also recently issued reports on SNPS. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company began coverage on shares of Synopsys in a report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Finally, Piper Sandler dropped their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $644.55.

Synopsys Trading Down 1.9 %

Shares of Synopsys stock opened at $492.54 on Monday. The firm has a market capitalization of $76.14 billion, a PE ratio of 33.92, a P/E/G ratio of 3.41 and a beta of 1.12. Synopsys has a twelve month low of $457.52 and a twelve month high of $629.38. The firm’s 50-day moving average price is $523.58 and its 200 day moving average price is $528.92.

Hedge Funds Weigh In On Synopsys

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in shares of Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Edgewood Management LLC increased its position in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new stake in shares of Synopsys in the third quarter worth $633,469,000. Institutional investors and hedge funds 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.