A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Synopsys from a neutral rating to an underweight rating and set a $87.00 price target on the stock. in a research report on Tuesday, December 12th. BidaskClub cut Synopsys from a buy rating to a hold rating in a research report on Tuesday, December 12th. Zacks Investment Research cut Synopsys from a hold rating to a strong sell rating in a research report on Monday, December 4th. Needham & Company LLC upped their price target on Synopsys from $83.00 to $100.00 and gave the company a buy rating in a research report on Friday, December 1st. Finally, KeyCorp reaffirmed an overweight rating and set a $106.00 price target (up previously from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Synopsys currently has an average rating of Hold and a consensus price target of $97.33.
Synopsys (SNPS) opened at $85.47 on Friday. 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 quick ratio of 1.04 and a current ratio of 0.68. The company has a market capitalization of $12,710.00, a price-to-earnings ratio of 79.88, a PEG ratio of 4.21 and a beta of 1.04.
In related news, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $84.77, for a total transaction of $305,934.93. Following the sale, the chief executive officer now owns 209,244 shares of the company’s stock, valued at approximately $17,737,613.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph W. Logan sold 10,313 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $84.69, for a total value of $873,407.97. Following the sale, the executive vice president now directly owns 78,584 shares in the company, valued at approximately $6,655,278.96. The disclosure for this sale can be found here. Insiders have sold a total of 79,364 shares of company stock worth $6,959,036 in the last three months. 1.84% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Swiss National Bank lifted its holdings in Synopsys by 0.9% during the 3rd quarter. Swiss National Bank now owns 778,236 shares of the semiconductor company’s stock worth $62,671,000 after purchasing an additional 7,200 shares in the last quarter. Sei Investments Co. lifted its holdings in Synopsys by 17.8% during the 3rd quarter. Sei Investments Co. now owns 210,933 shares of the semiconductor company’s stock worth $16,986,000 after purchasing an additional 31,801 shares in the last quarter. ING Groep NV lifted its holdings in Synopsys by 68.5% during the 3rd quarter. ING Groep NV now owns 12,984 shares of the semiconductor company’s stock worth $1,046,000 after purchasing an additional 5,277 shares in the last quarter. Oribel Capital Management LP lifted its holdings in Synopsys by 340.6% during the 3rd quarter. Oribel Capital Management LP now owns 174,900 shares of the semiconductor company’s stock worth $14,084,000 after purchasing an additional 135,200 shares in the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new stake in Synopsys during the 3rd quarter worth about $701,000. 88.58% of the stock is currently owned by institutional investors and hedge funds.
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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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