Synopsys (NASDAQ:SNPS) Stock Rating Downgraded by StockNews.com

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Synopsis (NASDAQ:SNPS) was downgraded by StockNews.com from a “strong buy” rating to a “buy” rating in a research report released on Saturday.

Other research analysts have also published research reports on the stock. KeyCorp raised its price target on Synopsys shares from $395.00 to $445.00 and gave the company an “overweight” rating in a Monday, Jan. 10 research note. Robert W. Baird raised his price target on Synopsys shares from $350.00 to $402.00 and gave the company an “outperform” rating in a Thursday, Dec. 2 research note. Credit Suisse Group raised its price target on Synopsys shares from $300.00 to $360.00 and gave the company an “outperform” rating in a Monday, Nov. 29 research note. Wells Fargo & Company raised its price target on Synopsys shares from $400.00 to $415.00 and gave the company an “overweight” rating in a Thursday, Dec. 2 research note. Finally, Bank of America raised its price target on Synopsys shares from $330.00 to $355.00 and gave the company an “underperforming” rating in a Monday, Jan. 10, report. One financial analyst has assigned the stock a sell rating, one has assigned a hold rating and nine have assigned the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $385.78.

Synopsys stock opened at $287.63 on Friday. The company’s 50-day simple moving average is $328.88 and its 200-day simple moving average is $325.70. Synopsys has a fifty-two week low of $217.69 and a fifty-two week high of $377.60. The company has a market capitalization of $44.13 billion, a price/earnings ratio of 59.67, a PEG ratio of 3.68 and a beta of 1.13.

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Synopsys Inc (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 16. The semiconductor company reported earnings per share of $2.40 for the quarter, beating the consensus estimate of $2.37 by $0.03. Synopsys achieved a net margin of 18.02% and a return on equity of 14.83%. The company posted revenue of $1.27 billion for the quarter, compared to analysts’ estimates of $1.27 billion. In the same quarter last year, the company achieved EPS of $1.03. Synopsys quarterly revenue increased 30.9% compared to the same quarter last year. As a group, research analysts expect Synopsys to post an EPS of 5.43 for the current fiscal year.

Synopsys said its board approved a stock repurchase plan on Friday, Dec. 10 that authorizes the company to repurchase $1.00 billion of outstanding stock. This repurchase authorization allows the semiconductor company to repurchase up to 1.8% of its shares through open market purchases. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.

Separately, insider John F. Runkel, Jr. sold 6,516 shares of the company in a trade dated Wednesday, Dec. 15. The shares were sold at an average price of $350.00, for a total value of $2,280,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CRO Joseph W. Logan sold 6,053 shares of the company in a trade dated Friday, Dec. 3. The shares were sold at an average price of $348.12, for a total transaction of $2,107,170.36. The disclosure of this sale can be found here. During the last quarter, insiders sold 236,722 shares of the company worth $85,114,661. Company insiders own 1.56% of the company’s shares.

Several institutional investors have recently changed their positions in SNPS. Lbmc Investment Advisors LLC increased its position in Synopsys by 912.4% during the third quarter. Lbmc Investment Advisors LLC now owns 15,712 shares of the semiconductor company worth $465,000 after purchasing an additional 14,160 shares during the period. Private Advisor Group LLC raised its position in Synopsys by 99.1% during the third quarter. Private Advisor Group LLC now owns 13,102 shares of the semiconductor company worth $3,924,000 after purchasing an additional 6,521 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Synopsys during the third quarter valued at approximately $8,451,000. Cubist Systematic Strategies LLC increased its position in Synopsys by 215.3% during the second quarter. Cubist Systematic Strategies LLC now owns 35,049 shares of the semiconductor company worth $9,666,000 after purchasing an additional 23,933 shares during the period. Finally, Voloridge Investment Management LLC increased its position in Synopsys by 1,206.8% during the third quarter. Voloridge Investment Management LLC now owns 88,794 shares of the semiconductor company worth $26,586,000 after purchasing an additional 81,999 shares during the period. 84.32% of the shares are held by institutional investors.

Synopsys Company Profile

Synopsys, Inc provides software products and consulting services to the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes EDA, IP and system integration.

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