Synopsys (NASDAQ:SNPS) Given New $175.00 Price Target at KeyCorp

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Synopsys (NASDAQ:SNPS) had its target price raised by KeyCorp from $160.00 to $175.00 in a report issued on Thursday morning, The Fly reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

SNPS has been the subject of a number of other research reports. BidaskClub raised Synopsys from a buy rating to a strong-buy rating in a research note on Friday, February 14th. DA Davidson reaffirmed a buy rating and issued a $175.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Royal Bank of Canada reaffirmed a top pick rating and issued a $178.00 price objective on shares of Synopsys in a research note on Tuesday. Wells Fargo & Co increased their price target on Synopsys from $160.00 to $180.00 and gave the company an overweight rating in a research note on Friday, February 14th. Finally, Needham & Company LLC increased their price target on Synopsys from $150.00 to $175.00 and gave the company a buy rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $175.92.

Synopsys stock traded down $5.75 during mid-day trading on Thursday, reaching $149.33. 2,776,616 shares of the stock traded hands, compared to its average volume of 1,074,543. The stock has a market capitalization of $24.84 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 3.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.91. Synopsys has a 12-month low of $100.65 and a 12-month high of $166.87. The business’s 50-day moving average is $152.33 and its 200-day moving average is $140.49.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The business had revenue of $834.38 million during the quarter, compared to analysts’ expectations of $821.55 million. Synopsys had a return on equity of 12.13% and a net margin of 14.31%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities analysts anticipate that Synopsys will post 3.76 EPS for the current fiscal year.

In other news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $141.15, for a total value of $1,411,500.00. Following the completion of the sale, the general counsel now directly owns 23,607 shares of the company’s stock, valued at approximately $3,332,128.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.84% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SNPS. Fulton Bank N.A. increased its holdings in Synopsys by 4.1% during the 4th quarter. Fulton Bank N.A. now owns 1,662 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 65 shares during the period. CLS Investments LLC increased its holdings in shares of Synopsys by 1.1% in the 4th quarter. CLS Investments LLC now owns 6,605 shares of the semiconductor company’s stock valued at $919,000 after acquiring an additional 71 shares during the period. Signaturefd LLC increased its holdings in shares of Synopsys by 7.3% in the 4th quarter. Signaturefd LLC now owns 1,202 shares of the semiconductor company’s stock valued at $167,000 after acquiring an additional 82 shares during the period. Corient Capital Partners LLC increased its holdings in shares of Synopsys by 6.1% in the 3rd quarter. Corient Capital Partners LLC now owns 1,750 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 100 shares during the period. Finally, Utah Retirement Systems increased its holdings in shares of Synopsys by 0.4% in the 4th quarter. Utah Retirement Systems now owns 28,414 shares of the semiconductor company’s stock valued at $3,955,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 88.44% of the company’s stock.

Synopsys Company Profile

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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