BidaskClub lowered shares of Synopsys, Inc. (NASDAQ:SNPS) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other research analysts have also issued reports on the stock. J P Morgan Chase & Co restated an average rating on shares of Synopsys in a research report on Friday, May 26th. Bank of America Corporation restated a buy rating and set a $87.00 target price (up previously from $80.00) on shares of Synopsys in a research report on Friday, May 19th. DA Davidson restated a buy rating and set a $85.00 target price (up previously from $77.00) on shares of Synopsys in a research report on Friday, May 19th. Pacific Crest restated an overweight rating and set a $86.00 target price (up previously from $78.00) on shares of Synopsys in a research report on Friday, May 19th. Finally, Royal Bank Of Canada restated an outperform rating and set a $85.00 target price (up previously from $77.00) on shares of Synopsys in a research report on Thursday, May 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $75.78.

Shares of Synopsys (SNPS) traded up 0.09% on Tuesday, reaching $76.43. 352,122 shares of the company’s stock were exchanged. Synopsys has a 12 month low of $53.53 and a 12 month high of $77.29. The firm’s 50-day moving average price is $74.61 and its 200 day moving average price is $71.29. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 42.70 and a beta of 1.01.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The firm had revenue of $680.07 million for the quarter, compared to analyst estimates of $672.40 million. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Synopsys will post $3.28 EPS for the current fiscal year.

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Synopsys announced that its Board of Directors has authorized a share buyback program on Friday, June 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In other news, Chairman Geus Aart De sold 264,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $71.01, for a total transaction of $18,746,640.00. Following the completion of the sale, the chairman now owns 220,133 shares of the company’s stock, valued at approximately $15,631,644.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $70.96, for a total transaction of $266,100.00. Following the sale, the chief executive officer now directly owns 204,179 shares of the company’s stock, valued at approximately $14,488,541.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,246 shares of company stock valued at $21,608,505. 1.82% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Cypress Wealth Advisors LLC increased its stake in shares of Synopsys by 1.7% in the first quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock worth $344,000 after buying an additional 81 shares during the period. Pacer Advisors Inc. increased its stake in shares of Synopsys by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,861 shares of the semiconductor company’s stock worth $206,000 after buying an additional 88 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock worth $110,000 after buying an additional 92 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Synopsys by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the semiconductor company’s stock worth $678,000 after buying an additional 100 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Synopsys by 4.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,036 shares of the semiconductor company’s stock worth $272,000 after buying an additional 172 shares during the period. 91.62% of the stock is owned by institutional investors.

Synopsys Company Profile

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.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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