Synopsys (SNPS) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Synopsys (NASDAQ:SNPS) from a hold rating to a sell rating in a research note published on Tuesday morning.

A number of other brokerages have also weighed in on SNPS. Zacks Investment Research lowered Synopsys from a hold rating to a strong sell rating in a research note on Monday, December 4th. JPMorgan Chase lowered Synopsys from a neutral rating to an underweight rating and set a $87.00 target price on the stock. in a research note on Tuesday, December 12th. KeyCorp reiterated an overweight rating and set a $110.00 target price (up previously from $106.00) on shares of Synopsys in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada reiterated a buy rating on shares of Synopsys in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Synopsys currently has a consensus rating of Hold and a consensus target price of $97.33.

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NASDAQ:SNPS opened at $81.39 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $12,305.51, a price-to-earnings ratio of 92.49, a price-to-earnings-growth ratio of 5.33 and a beta of 1.09. Synopsys has a 12-month low of $70.55 and a 12-month high of $94.80.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $769.40 million for the quarter, compared to analyst estimates of $750.43 million. Synopsys had a return on equity of 6.72% and a net margin of 1.63%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. equities research analysts predict that Synopsys will post 1.55 EPS for the current fiscal year.

In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $87.00, for a total transaction of $870,000.00. Following the sale, the general counsel now owns 23,052 shares of the company’s stock, valued at $2,005,524. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph W. Logan sold 10,313 shares of the stock in a transaction that occurred on 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. In the last quarter, insiders have sold 29,245 shares of company stock worth $2,529,005. 1.84% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of SNPS. Cerebellum GP LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $124,000. Robecosam AG grew its position in Synopsys by 69.2% during the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $188,000 after buying an additional 900 shares in the last quarter. IBM Retirement Fund acquired a new stake in Synopsys during the fourth quarter worth approximately $201,000. Conning Inc. acquired a new stake in Synopsys during the fourth quarter worth approximately $205,000. Finally, Checchi Capital Advisers LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $205,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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Synopsys Company Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides 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.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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