Synopsys (NASDAQ:SNPS) Price Target Lowered to $555.00 at KeyCorp

Synopsys (NASDAQ:SNPS) had its price target lowered by KeyCorp from $690.00 to $555.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on the stock. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $623.17.

Synopsys Trading Up 0.9 %

Shares of NASDAQ SNPS opened at $425.65 on Tuesday. Synopsys has a 12-month low of $365.74 and a 12-month high of $624.80. The stock has a market cap of $65.81 billion, a P/E ratio of 29.31, a PEG ratio of 3.23 and a beta of 1.23. The business’s fifty day simple moving average is $453.23 and its 200-day simple moving average is $496.88.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Institutional Trading of Synopsys

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kieckhefer Group LLC acquired a new stake in Synopsys in the fourth quarter valued at $27,000. Ameriflex Group Inc. purchased a new position in Synopsys during the fourth quarter worth $29,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the fourth quarter worth $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys during the fourth quarter valued at $34,000. Finally, Sierra Ocean LLC purchased a new stake in Synopsys during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

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.