Synopsys, Inc. (NASDAQ:SNPS) Receives $649.00 Consensus Target Price from Analysts

Shares of Synopsys, Inc. (NASDAQ:SNPS) have earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $641.82.

A number of research firms have recently commented on SNPS. Piper Sandler dropped their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Redburn Atlantic started coverage on Synopsys in a research note on Monday. They set a “buy” rating and a $600.00 price target on the stock.

Synopsys Price Performance

NASDAQ SNPS opened at $490.36 on Wednesday. The stock’s 50-day moving average is $522.21 and its two-hundred day moving average is $527.43. The firm has a market cap of $75.80 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Davidson Capital Management Inc. raised its position in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares during the last quarter. Peloton Wealth Strategists raised its position in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Swiss National Bank raised its position in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at $633,469,000. Finally, Harvest Portfolios Group Inc. raised its position in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the last quarter. 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.