Synopsys (NASDAQ:SNPS) had its price objective increased by analysts at Needham & Company LLC from $83.00 to $100.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 10.72% from the company’s previous close.

Several other analysts have also recently issued reports on SNPS. Credit Suisse Group reaffirmed a “positive” rating and set a $90.00 price objective (up from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada upped their price objective on Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Monday, August 21st. Finally, reaffirmed an “average” rating on shares of Synopsys in a report on Thursday, September 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $98.13.

Synopsys (NASDAQ SNPS) traded down $0.06 during midday trading on Thursday, reaching $90.32. The company had a trading volume of 1,763,756 shares, compared to its average volume of 1,036,747. The company has a current ratio of 1.04, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Synopsys has a one year low of $56.03 and a one year high of $94.80. The stock has a market cap of $13,597.22, a PE ratio of 74.08, a PEG ratio of 4.11 and a beta of 1.01.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The company had revenue of $696.60 million for the quarter, compared to analysts’ expectations of $650.72 million. During the same period in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. sell-side analysts predict that Synopsys will post 2.41 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. grew its position in Synopsys by 11.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 147 shares during the last quarter. IFP Advisors Inc grew its position in Synopsys by 40.4% in the 2nd quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 415 shares during the last quarter. YorkBridge Wealth Partners LLC grew its position in Synopsys by 3.7% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 55 shares during the last quarter. Advisor Group Inc. grew its position in Synopsys by 14.3% in the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after acquiring an additional 327 shares during the last quarter. Finally, Tiemann Investment Advisors LLC bought a new position in Synopsys in the 3rd quarter valued at $214,000. 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.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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