BidaskClub lowered shares of Synopsys (NASDAQ:SNPS) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Several other analysts have also commented on the stock. KeyCorp increased their price target on shares of Synopsys from $112.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, August 23rd. Credit Suisse Group upped their price objective on shares of Synopsys from $100.00 to $102.00 and gave the company an outperform rating in a research note on Thursday, May 24th. Needham & Company LLC reissued a buy rating and set a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. Zacks Investment Research downgraded shares of Synopsys from a buy rating to a hold rating in a research note on Wednesday, May 23rd. Finally, TheStreet raised shares of Synopsys from a c+ rating to a b rating in a research note on Wednesday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Synopsys presently has an average rating of Buy and a consensus target price of $106.14.

Shares of SNPS opened at $102.59 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.04. Synopsys has a twelve month low of $78.66 and a twelve month high of $103.00. The stock has a market cap of $15.16 billion, a price-to-earnings ratio of 116.56, a P/E/G ratio of 6.50 and a beta of 1.17.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.92 by $0.03. The business had revenue of $779.70 million for the quarter, compared to analyst estimates of $773.61 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share. equities analysts anticipate that Synopsys will post 1.57 EPS for the current year.

In other Synopsys news, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $101.85, for a total transaction of $367,576.65. Following the transaction, the chief executive officer now owns 202,135 shares of the company’s stock, valued at $20,587,449.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the transaction, the general counsel now directly owns 22,322 shares in the company, valued at approximately $2,276,844. The disclosure for this sale can be found here. Insiders have sold 33,609 shares of company stock worth $3,416,177 in the last three months. Insiders own 1.84% of the company’s stock.

Large investors have recently bought and sold shares of the business. Fort L.P. purchased a new position in Synopsys during the second quarter worth approximately $117,000. Piedmont Investment Advisors LLC purchased a new position in Synopsys during the second quarter worth approximately $149,000. Checchi Capital Advisers LLC purchased a new position in Synopsys during the second quarter worth approximately $205,000. Advisor Partners LLC purchased a new position in Synopsys during the second quarter worth approximately $205,000. Finally, First Republic Investment Management Inc. purchased a new position in Synopsys during the second quarter worth approximately $209,000. 88.62% of the stock is currently owned by institutional investors.

About Synopsys

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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