Synopsys (NASDAQ:SNPS) Receives Buy Rating from Rosenblatt Securities

Synopsys (NASDAQ:SNPS)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $660.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 41.25% from the stock’s previous close.

Several other brokerages have also weighed in on SNPS. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Finally, 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 report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $639.58.

Synopsys Trading Down 1.6 %

SNPS opened at $467.25 on Tuesday. The stock has a market cap of $72.23 billion, a PE ratio of 32.22, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys has a 1 year low of $457.52 and a 1 year high of $624.80. The stock’s 50 day simple moving average is $509.17 and its 200-day simple moving average is $517.36.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Davidson Capital Management Inc. increased its holdings in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Peloton Wealth Strategists grew 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 worth $1,459,000 after buying an additional 1,984 shares during the period. Swiss National Bank grew its holdings in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the period. Parnassus Investments LLC acquired a new stake in Synopsys in the third quarter worth $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its position in shares of Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after purchasing an additional 1,496 shares in the last quarter. 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.