Analysts Set Synopsys, Inc. (NASDAQ:SNPS) Target Price at $639.58

Shares of Synopsys, Inc. (NASDAQ:SNPS) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $638.58.

A number of brokerages recently commented on SNPS. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler decreased their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th.

Synopsys Price Performance

SNPS opened at $447.96 on Thursday. The firm has a market capitalization of $69.26 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.12. Synopsys has a one year low of $429.77 and a one year high of $624.80. The business has a 50 day simple moving average of $503.01 and a two-hundred day simple moving average of $513.56.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Synopsys

Several large investors have recently bought and sold shares of the business. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the fourth quarter worth approximately $27,000. Ameriflex Group Inc. purchased a new stake in Synopsys in the fourth quarter worth approximately $29,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Synopsys during the 4th quarter valued at $34,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.