Synopsys (SNPS) Lowered to Hold at BidaskClub
BidaskClub lowered shares of Synopsys (NASDAQ:SNPS) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
SNPS has been the subject of a number of other research reports. Royal Bank of Canada upgraded Synopsys from an outperform rating to a top pick rating and increased their target price for the company from $90.00 to $100.00 in a research note on Wednesday, October 25th. Zacks Investment Research upgraded Synopsys from a hold rating to a buy rating and set a $86.00 target price for the company in a research note on Monday, August 21st. Needham & Company LLC increased their target price on Synopsys from $83.00 to $100.00 and gave the company a buy rating in a research note on Thursday, November 30th. Credit Suisse Group restated a positive rating and set a $90.00 price objective (up previously from $82.00) on shares of Synopsys in a research note on Tuesday, August 15th. Finally, DA Davidson restated a buy rating and set a $105.00 price objective (up previously from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Synopsys currently has a consensus rating of Hold and a consensus price target of $96.89.
Shares of Synopsys (SNPS) opened at $87.58 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. Synopsys has a 12 month low of $58.74 and a 12 month high of $94.80. The stock has a market capitalization of $13,240.00, a PE ratio of 74.19, a PEG ratio of 4.42 and a beta of 1.01.
Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The business had revenue of $696.60 million during the quarter, compared to analyst estimates of $650.72 million. During the same quarter last year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. analysts expect that Synopsys will post 2.24 EPS for the current year.
In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $90.33, for a total transaction of $451,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $89.78, for a total value of $336,675.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,824 shares of company stock valued at $2,680,349. 1.82% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. AXA grew its position in shares of Synopsys by 22.8% in the 2nd quarter. AXA now owns 704,528 shares of the semiconductor company’s stock worth $51,382,000 after acquiring an additional 130,700 shares in the last quarter. Bridgewater Associates LP acquired a new position in shares of Synopsys in the 2nd quarter worth approximately $448,000. Swiss National Bank grew its position in shares of Synopsys by 0.9% in the 3rd quarter. Swiss National Bank now owns 778,236 shares of the semiconductor company’s stock worth $62,671,000 after acquiring an additional 7,200 shares in the last quarter. AJO LP grew its position in shares of Synopsys by 132.1% in the 2nd quarter. AJO LP now owns 1,449,128 shares of the semiconductor company’s stock worth $105,685,000 after acquiring an additional 824,879 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Synopsys by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock worth $311,973,000 after acquiring an additional 125,190 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.
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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