Stocks of Synopsys Inc. (NASDAQ:SNPS) traded higher last session on Wall Street, down -0.49% to $335.66.
According to the data, Synopsys Inc. (NASDAQ:SNPS) has 16 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $467.00 and a low of $356.90, we find $420.00. Given the previous closing price of $337.30, this indicates a potential upside of 24.52 percent. SNPS stock price is now 3.66% away from the 50-day moving average and 5.40% away from the 200-day moving average. The market capitalization of the company currently stands at $51.18B.
A total of 1 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $419.07 as their price target over the next twelve months.
With the price target maintained at $410, BofA Securities recently Upgraded its rating from Neutral to Buy for Synopsys Inc. (NASDAQ: SNPS)., while ‘Deutsche Bank’ rates the stock as ‘Buy’.
In other news, Ghazi Sassine, President and COO sold 29,136 shares of the company’s stock on Jan 09. The stock was sold for $9,612,846 at an average price of $329.93. Upon completion of the transaction, the President and COO now directly owns 52,609 shares in the company, valued at $17.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 03, President and COO Ghazi Sassine sold 29,136 shares of the business’s stock. A total of $9,307,708 was realized by selling the stock at an average price of $319.46. This leaves the insider owning 52,609 shares of the company worth $17.66 million. Insiders disposed of 332,247 shares of company stock worth roughly $111.52 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SNPS stock. A new stake in Synopsys Inc. shares was purchased by CAPITAL WORLD INVESTORS during the first quarter worth $1,279,376,000. T. ROWE PRICE INVESTMENT MANAGEMENT, INC. invested $676,877,000 in shares of SNPS during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Synopsys Inc. valued at approximately $95,907,000. EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in SNPS for approximately $28,412,000. INVERNESS COUNSEL LLC /NY/ purchased a new stake in SNPS valued at around $14,728,000 in the second quarter. In total, there are 1,310 active investors with 92.70% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $339.46 for Synopsys Inc. (NASDAQ: SNPS). During the past 12 months, Synopsys Inc. has had a low of $255.02 and a high of $391.17. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.10, and a quick ratio of 1.00. The fifty day moving average price for SNPS is $323.81 and a two-hundred day moving average price translates $318.46 for the stock.
The latest earnings results from Synopsys Inc. (NASDAQ: SNPS) was released for Jul, 2022. According to the Software – Infrastructure Company, earnings per share came in at $2.1, beating analysts’ expectations of $1.99 by 0.11. This compares to $1.27 EPS in the same period last year. The net profit margin was 19.40% and return on equity was 17.80% for SNPS. The company reported revenue of $1.28 billion for the quarter, compared to $1.15 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.44 percent. For the current quarter, analysts expect SNPS to generate $1.28B in revenue.
Synopsys Inc.(SNPS) Company Profile
Synopsys, Inc. provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that 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. It also provides intellectual property (IP) solutions for USB, PCI Express, DDR, Ethernet, SATA, MIPI, HDMI, and Bluetooth low energy applications; analog IP, including data converters and audio codecs; and system-on-chip (SoC) infrastructure IP, datapath and building block IP, and verification IP products, as well as mathematical and floating-point components, and Arm AMBA interconnect fabric and peripherals. In addition, the company offers logic libraries and embedded memories; configurable processor cores and application-specific instruction-set processor tools for embedded applications; IP subsystems for audio, sensor, and data fusion functionality; and security IP solutions. Further, it provides Platform Architect solutions for SoC architecture analysis and optimization; virtual prototyping solutions; and HAPS FPGA-based prototyping systems, as well as a series of tools used in the design of optical systems and photonic devices. Additionally, the company offers security testing, managed services, programs and professional services, and training that enable its customers to detect and remediate security vulnerabilities, and defects in the software development lifecycle, as well as manufacturing solutions. It serves electronics, financial services, automotive, medicine, energy, and industrial areas. The company was incorporated in 1986 and is headquartered in Mountain View, California.