BidaskClub downgraded shares of Synopsys (NASDAQ:SNPS) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Wells Fargo & Co assumed coverage on shares of Synopsys in a research report on Tuesday, May 14th. They set an outperform rating and a $135.00 target price on the stock. Bank of America restated an average rating on shares of Synopsys in a research report on Wednesday, June 5th. KeyCorp upped their target price on shares of Synopsys from $135.00 to $152.00 and gave the company an overweight rating in a research report on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of Synopsys from a hold rating to a sell rating and set a $143.00 target price on the stock. in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $137.30.

Synopsys stock opened at $135.05 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. Synopsys has a 1 year low of $79.14 and a 1 year high of $142.00. The company has a market cap of $20.84 billion, a PE ratio of 33.99, a PEG ratio of 3.96 and a beta of 1.27. The company’s 50-day moving average is $133.42 and its two-hundred day moving average is $119.60.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Research analysts forecast that Synopsys will post 3.16 EPS for the current year.

In related news, VP Sudhindra Kankanwadi sold 3,133 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $121.88, for a total transaction of $381,850.04. Following the completion of the sale, the vice president now directly owns 8,416 shares of the company’s stock, valued at approximately $1,025,742.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roy Vallee sold 15,596 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $128.95, for a total value of $2,011,104.20. Following the sale, the director now directly owns 52,641 shares of the company’s stock, valued at $6,788,056.95. The disclosure for this sale can be found here. Insiders sold a total of 34,925 shares of company stock worth $4,471,565 over the last quarter. 1.84% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GYL Financial Synergies LLC bought a new position in shares of Synopsys during the 1st quarter worth approximately $999,000. Bailard Inc. bought a new position in shares of Synopsys during the 2nd quarter worth approximately $219,000. Janney Montgomery Scott LLC grew its stake in shares of Synopsys by 6.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,668 shares of the semiconductor company’s stock worth $422,000 after acquiring an additional 229 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Synopsys by 65.0% during the 1st quarter. TD Asset Management Inc. now owns 131,270 shares of the semiconductor company’s stock worth $15,116,000 after acquiring an additional 51,691 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Synopsys by 16.3% during the 1st quarter. Advisor Group Inc. now owns 13,345 shares of the semiconductor company’s stock worth $1,537,000 after acquiring an additional 1,875 shares in the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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