KeyCorp reaffirmed their overweight rating on shares of Synopsys (NASDAQ:SNPS) in a research report sent to investors on Thursday morning. They currently have a $110.00 target price on the semiconductor company’s stock, up from their previous target price of $106.00.
SNPS has been the topic of a number of other research reports. BidaskClub raised shares of Synopsys from a hold rating to a buy rating in a research note on Tuesday, January 23rd. DA Davidson reaffirmed a buy rating and set a $105.00 price target (up previously from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. Needham & Company LLC upped their price target on shares of Synopsys from $83.00 to $100.00 and gave the company a buy rating in a research note on Friday, December 1st. Royal Bank of Canada reaffirmed a buy rating and set a $120.00 price target on shares of Synopsys in a research note on Thursday, November 30th. Finally, TheStreet downgraded shares of Synopsys from an a rating to a c+ rating in a research note on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $97.33.
Synopsys (NASDAQ:SNPS) opened at $85.24 on Thursday. Synopsys has a 1-year low of $69.42 and a 1-year high of $94.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 1.04. The company has a market cap of $12,834.93, a price-to-earnings ratio of 315.70, a PEG ratio of 3.80 and a beta of 1.04.
In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $90.33, for a total transaction of $451,650.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $88.00, for a total transaction of $880,000.00. Following the transaction, the general counsel now owns 18,742 shares in the company, valued at approximately $1,649,296. The disclosure for this sale can be found here. Insiders have sold 65,442 shares of company stock worth $5,779,693 in the last quarter. Company insiders own 1.82% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC bought a new position in Synopsys during the fourth quarter valued at $124,000. Robecosam AG grew its holdings in shares of Synopsys by 69.2% in the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $188,000 after purchasing an additional 900 shares during the last quarter. IBM Retirement Fund bought a new position in shares of Synopsys in the fourth quarter worth about $201,000. Conning Inc. bought a new position in shares of Synopsys in the fourth quarter worth about $205,000. Finally, Checchi Capital Advisers LLC bought a new position in shares of Synopsys in the fourth quarter worth about $205,000. Institutional investors and hedge funds own 88.58% of the company’s stock.
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Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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