Synopsys (NASDAQ:SNPS) had its price objective upped by stock analysts at Needham & Company LLC from $105.00 to $115.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 28.56% from the company’s current price.

Several other analysts have also recently commented on the stock. Benchmark upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, November 20th. They issued a “buy” rating and a $119.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Synopsys from an “underweight” rating to a “neutral” rating and set a $98.00 price target on the stock in a research note on Tuesday, October 23rd. Finally, BidaskClub cut shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $108.50.

SNPS stock remained flat at $$89.45 during mid-day trading on Thursday. 682,789 shares of the company’s stock traded hands, compared to its average volume of 1,271,416. The stock has a market cap of $13.29 billion, a PE ratio of 101.65, a P/E/G ratio of 3.52 and a beta of 1.29. Synopsys has a 1-year low of $80.13 and a 1-year high of $103.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.70 and a current ratio of 0.70.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, December 5th. The semiconductor company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.41 by $0.37. The business had revenue of $795.08 million for the quarter, compared to analysts’ expectations of $794.55 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. On average, research analysts forecast that Synopsys will post 1.57 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in SNPS. Piedmont Investment Advisors LLC purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $149,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $220,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Synopsys by 3.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 493,188 shares of the semiconductor company’s stock valued at $42,202,000 after buying an additional 16,748 shares in the last quarter. Comerica Bank raised its position in shares of Synopsys by 29.7% during the 2nd quarter. Comerica Bank now owns 62,930 shares of the semiconductor company’s stock valued at $5,796,000 after buying an additional 14,418 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Synopsys by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,014,451 shares of the semiconductor company’s stock valued at $86,805,000 after buying an additional 10,769 shares in the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.

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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