Synopsys (NASDAQ:SNPS) had its price target boosted by Credit Suisse Group from $100.00 to $102.00 in a research report report published on Thursday. They currently have an outperform rating on the semiconductor company’s stock.
A number of other analysts also recently commented on SNPS. Zacks Investment Research downgraded Synopsys from a buy rating to a hold rating in a research report on Wednesday. KeyCorp boosted their target price on Synopsys from $110.00 to $112.00 and gave the stock an overweight rating in a research report on Thursday. BidaskClub upgraded Synopsys from a sell rating to a hold rating in a research report on Thursday, May 3rd. ValuEngine upgraded Synopsys from a hold rating to a buy rating in a research report on Thursday, April 12th. Finally, Royal Bank of Canada reiterated a buy rating on shares of Synopsys in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $102.71.
SNPS opened at $88.56 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 100.64, a PEG ratio of 5.82 and a beta of 1.10. Synopsys has a one year low of $71.94 and a one year high of $94.80.
Synopsys declared that its board has authorized a share buyback program on Thursday, April 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Chi-Foon Chan sold 778 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $90.06, for a total value of $70,066.68. Following the completion of the transaction, the chief executive officer now directly owns 210,131 shares of the company’s stock, valued at $18,924,397.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $87.00, for a total value of $870,000.00. Following the completion of the transaction, the general counsel now directly owns 23,052 shares of the company’s stock, valued at $2,005,524. The disclosure for this sale can be found here. Insiders own 1.84% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Cerebellum GP LLC acquired a new position in Synopsys in the fourth quarter valued at $124,000. Robecosam AG increased its stake in Synopsys by 69.2% in the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $188,000 after purchasing an additional 900 shares during the last quarter. IBM Retirement Fund acquired a new position in Synopsys in the fourth quarter valued at $201,000. Conning Inc. acquired a new position in Synopsys in the fourth quarter valued at $205,000. Finally, Checchi Capital Advisers LLC acquired a new position in Synopsys in the fourth quarter valued at $205,000. 88.61% of the stock is owned by institutional investors.
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.
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