Synopsys (NASDAQ:SNPS) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Synopsys (NASDAQ:SNPS) from a buy rating to a hold rating in a research note published on Wednesday, BidAskClub reports.

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

Synopsys stock opened at $135.05 on Wednesday. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 3.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.85. Synopsys has a 1 year low of $79.14 and a 1 year high of $142.00. The firm has a 50-day moving average of $133.42 and a two-hundred day moving average of $119.60.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $831.03 million. Synopsys had a net margin of 18.94% and a return on equity of 16.79%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. Research analysts expect that Synopsys will post 3.19 earnings per share for the current year.

In other news, Director Steven Walske sold 2,453 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $126.54, for a total value of $310,402.62. Following the completion of the sale, the director now owns 14,038 shares of the company’s stock, valued at approximately $1,776,368.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roy Vallee sold 15,596 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $128.95, for a total transaction of $2,011,104.20. Following the transaction, the director now owns 52,641 shares of the company’s stock, valued at approximately $6,788,056.95. The disclosure for this sale can be found here. Insiders sold a total of 34,925 shares of company stock valued at $4,471,565 in the last ninety days. Corporate insiders own 1.84% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Synopsys by 4.5% during the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock worth $1,658,997,000 after acquiring an additional 554,602 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Synopsys by 18.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,228,559 shares of the semiconductor company’s stock worth $782,432,000 after acquiring an additional 955,527 shares in the last quarter. Invesco Ltd. raised its stake in shares of Synopsys by 33.9% during the 2nd quarter. Invesco Ltd. now owns 3,505,038 shares of the semiconductor company’s stock worth $451,061,000 after acquiring an additional 888,033 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Synopsys by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 2,244,335 shares of the semiconductor company’s stock worth $188,775,000 after acquiring an additional 109,140 shares in the last quarter. Finally, Egerton Capital UK LLP raised its stake in shares of Synopsys by 142.3% during the 1st quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock worth $253,271,000 after acquiring an additional 1,291,643 shares in the last quarter. Hedge funds and other institutional investors own 90.58% 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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