Synopsys (SNPS) Stock Rating Lowered by TheStreet
Synopsys (NASDAQ:SNPS) was downgraded by investment analysts at TheStreet from an “a” rating to a “c+” rating in a research report issued on Wednesday.
A number of other equities research analysts have also recently weighed in on SNPS. Credit Suisse Group reaffirmed a “positive” rating and issued a $90.00 price objective (up from $82.00) on shares of Synopsys in a research note on Tuesday, August 15th. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $83.00 price objective (up from $77.00) on shares of Synopsys in a research note on Thursday, August 17th. Royal Bank Of Canada lifted their price objective on Synopsys from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.89.
Shares of Synopsys (NASDAQ SNPS) traded down $0.06 during midday trading on Wednesday, hitting $90.32. The stock had a trading volume of 1,765,211 shares, compared to its average volume of 1,056,275. Synopsys has a twelve month low of $56.03 and a twelve month high of $94.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $13,492.24, a PE ratio of 36.06, a PEG ratio of 4.09 and a beta of 1.00.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. Synopsys had a negative return on equity of 14.38% and a negative net margin of 17.24%. The business had revenue of $696.60 million during the quarter, compared to analysts’ expectations of $650.72 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. analysts expect that Synopsys will post 1.93 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Synopsys by 3.1% in the second quarter. Vanguard Group Inc. now owns 15,500,829 shares of the semiconductor company’s stock valued at $1,130,474,000 after purchasing an additional 469,622 shares during the period. Ameriprise Financial Inc. boosted its holdings in Synopsys by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock valued at $311,973,000 after purchasing an additional 125,190 shares during the period. Janus Henderson Group PLC boosted its holdings in Synopsys by 14,458.8% in the second quarter. Janus Henderson Group PLC now owns 3,226,957 shares of the semiconductor company’s stock valued at $235,342,000 after purchasing an additional 3,204,792 shares during the period. Alkeon Capital Management LLC boosted its holdings in Synopsys by 0.4% in the third quarter. Alkeon Capital Management LLC now owns 2,460,259 shares of the semiconductor company’s stock valued at $198,125,000 after purchasing an additional 10,000 shares during the period. Finally, Swedbank boosted its holdings in Synopsys by 8.6% in the third quarter. Swedbank now owns 2,262,107 shares of the semiconductor company’s stock valued at $182,167,000 after purchasing an additional 179,528 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.
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Synopsys Company Profile
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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