BidaskClub cut shares of Synopsys (NASDAQ:SNPS) from a hold rating to a sell rating in a research note released on Tuesday.

A number of other analysts have also commented on the stock. KeyCorp boosted their price target on shares of Synopsys from $112.00 to $115.00 and gave the company an overweight rating in a research note on Thursday, August 23rd. Needham & Company LLC restated a buy rating and set a $105.00 price target (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. DA Davidson boosted their price target on shares of Synopsys to $110.00 and gave the company a buy rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Synopsys to $98.00 and gave the company an underweight rating in a research note on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $106.14.

Shares of SNPS stock opened at $88.12 on Tuesday. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 100.14, a price-to-earnings-growth ratio of 6.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70. Synopsys has a 12 month low of $80.13 and a 12 month high of $103.40.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. The business had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. Synopsys’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Analysts forecast that Synopsys will post 1.57 EPS for the current year.

In other news, CEO Chi-Foon Chan sold 3,609 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $101.85, for a total value of $367,576.65. Following the completion of the sale, the chief executive officer now owns 202,135 shares in the company, valued at approximately $20,587,449.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the general counsel now owns 22,322 shares of the company’s stock, valued at approximately $2,276,844. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,609 shares of company stock valued at $3,416,177. Company insiders own 1.84% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Robecosam AG boosted its holdings in shares of Synopsys by 22.4% in the 2nd quarter. Robecosam AG now owns 3,000 shares of the semiconductor company’s stock worth $255,000 after buying an additional 550 shares during the last quarter. Intrust Bank NA boosted its holdings in shares of Synopsys by 11.9% in the 2nd quarter. Intrust Bank NA now owns 5,681 shares of the semiconductor company’s stock worth $486,000 after buying an additional 606 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Synopsys by 1.2% in the 1st quarter. Stifel Financial Corp now owns 56,390 shares of the semiconductor company’s stock worth $4,693,000 after buying an additional 661 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Synopsys by 3.0% in the 2nd quarter. CIBC Asset Management Inc now owns 23,635 shares of the semiconductor company’s stock worth $2,022,000 after buying an additional 683 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of Synopsys by 28.2% in the 2nd quarter. Raymond James Trust N.A. now owns 3,179 shares of the semiconductor company’s stock worth $272,000 after buying an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.

About Synopsys

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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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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