Synopsys Inc. (NASDAQ:SNPS) shares traded -0.32% lower at $434.01 on Wall Street last session.
In accordance with the data, 14 analysts cover Synopsys Inc. (NASDAQ:SNPS). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $505.00 and a low of $410.00, we find $467.00. Given the previous closing price of $435.41, this indicates a potential upside of 7.26 percent. SNPS stock price is now 6.34% away from the 50-day moving average and 22.44% away from the 200-day moving average. The market capitalization of the company currently stands at $65.92B.
It has been rated a hold by 1 analysts and a buy by 11. Brokers who have rated the stock have averaged $461.53 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).
In other news, DE GEUS AART, Chairman of the Board & CEO sold 40,839 shares of the company’s stock on Jun 21. The stock was sold for $17,486,606 at an average price of $428.18. Upon completion of the transaction, the Chairman of the Board & CEO now directly owns 94,421 shares in the company, valued at $40.98 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 16, Chief Revenue Officer MAHONEY RICHARD S. sold 9,257 shares of the business’s stock. A total of $4,153,986 was realized by selling the stock at an average price of $448.74. This leaves the insider owning 2,078 shares of the company worth $0.9 million. Insiders disposed of 196,973 shares of company stock worth roughly $85.49 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 WINSLOW CAPITAL MANAGEMENT, LLC during the first quarter worth $280,128,000. MATRIX CAPITAL MANAGEMENT COMPANY, LP invested $264,631,000 in shares of SNPS during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Synopsys Inc. valued at approximately $142,174,000. VIKING GLOBAL INVESTORS LP acquired a new stake in SNPS for approximately $88,986,000. BAIN CAPITAL PUBLIC EQUITY MANAGEMENT II, LLC purchased a new stake in SNPS valued at around $88,654,000 in the second quarter. In total, there are 1,417 active investors with 92.70% ownership of the company’s stock.
Synopsys Inc. (NASDAQ: SNPS) opened at $431.62 on Monday. During the past 12 months, Synopsys Inc. has had a low of $267.00 and a high of $468.03. 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 1.10. According to the stock market information, the enterprise value for the company is $64.10B, which is based on a 73.24 price-to-earnings ratio, a 4.30 price-to-earnings-growth ratio, and a beta of 1.12. The fifty day moving average price for SNPS is $408.12 and a two-hundred day moving average price translates $354.45 for the stock.
The latest earnings results from Synopsys Inc. (NASDAQ: SNPS) was released for Apr, 2023. According to the Software – Infrastructure Company, earnings per share came in at $2.54, beating analysts’ expectations of $2.46 by 0.08. This compares to $1.88 EPS in the same period last year. The net profit margin was 17.40% and return on equity was 16.30% for SNPS. The company reported revenue of $1.39 billion for the quarter, compared to $1.28 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.04 percent. For the current quarter, analysts expect SNPS to generate $1.48B 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 Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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, MIPI, HDMI, and Bluetooth low energy applications; logic libraries and embedded memories; processor cores, software, and application-specific instruction-set processor tools for embedded applications; security IP solutions; IP solutions for automotive market; 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 HAPS FPGA-based prototyping systems; virtual prototyping solutions; and Platform Architect solutions for SoC architecture analysis and optimization, as well as a series of tools used in the design of optical systems and photonic devices. Further, it provides 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. The company serves electronics, financial services, automotive, medicine, energy, and industrial areas. Synopsys, Inc. was incorporated in 1986 and is headquartered in Mountain View, California.
