Synopsys (NASDAQ:SNPS) Rating Reiterated by Wells Fargo & Co

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Synopsys (NASDAQ:SNPS)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wells Fargo & Co in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $160.00 target price on the semiconductor company’s stock, up from their prior target price of $150.00. Wells Fargo & Co‘s price objective suggests a potential upside of 18.47% from the stock’s previous close.

A number of other equities analysts also recently weighed in on SNPS. Needham & Company LLC boosted their price target on shares of Synopsys from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Synopsys from a “hold” rating to a “sell” rating and set a $143.00 price target on the stock. in a report on Wednesday, July 24th. Bank of America reissued an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. Finally, KeyCorp boosted their price target on shares of Synopsys from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Synopsys currently has a consensus rating of “Buy” and an average price target of $137.30.

SNPS opened at $135.05 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.85. The company has a market capitalization of $20.24 billion, a price-to-earnings ratio of 47.89, a P/E/G ratio of 3.90 and a beta of 1.27. The firm’s fifty day moving average price is $133.42 and its two-hundred day moving average price is $119.60. Synopsys has a 1 year low of $79.14 and a 1 year high of $142.00.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. As a group, equities analysts anticipate that Synopsys will post 3.03 EPS for the current year.

In related news, VP Sudhindra Kankanwadi sold 3,133 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $121.88, for a total value of $381,850.04. Following the sale, the vice president now directly owns 8,416 shares in the company, valued at approximately $1,025,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roy Vallee sold 15,596 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $128.95, for a total value of $2,011,104.20. Following the completion of the sale, the director now owns 52,641 shares in the company, valued at $6,788,056.95. The disclosure for this sale can be found here. Insiders sold a total of 34,925 shares of company stock worth $4,471,565 over the last three months. 1.84% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Next Capital Management LLC bought a new stake in shares of Synopsys during the second quarter valued at about $26,000. Hanseatic Management Services Inc. bought a new stake in shares of Synopsys during the first quarter valued at about $30,000. Ruggie Capital Group bought a new stake in shares of Synopsys during the second quarter valued at about $32,000. Virtus ETF Advisers LLC bought a new stake in shares of Synopsys during the second quarter valued at about $34,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of Synopsys during the second quarter valued at about $42,000. Institutional investors and hedge funds own 90.58% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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