Synopsys (NASDAQ:SNPS) was given a new price target of $663.00 by Robert W. Baird

Synopsys (NASDAQ:SNPS – Free Report) had their price objective raised by Robert W. Baird from $661.00 to $663.00 in a report on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the semiconductor company’s stock.

Other analysts have recently issued research reports on the stock. Needham & Company LLC reiterated a buy rating and issued a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Rosenblatt Securities upped their target price on shares of Synopsys from $615.00 to $635.00 and gave the stock a buy rating in a research note on Thursday, August 15th. Finally, Piper Sandler upped their target price on shares of Synopsys from $672.00 to $687.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Eleven investment analysts have rated the stock with a buy rating. The stock currently has a consensus rating of Buy and a consensus price target of $630.09, according to MarketBeat.

Check out our latest report on SNPS

Synopsys price performance

Shares of NASDAQ SNPS opened at $548.06 on Thursday. The company has a 50-day simple moving average of $571.88 and a 200-day simple moving average of $566.53. The company has a market cap of $83.97 billion, a P/E ratio of 59.57, a P/E/G ratio of 3.58 and a beta of 1.07. Synopsys has a 1 year low of $434.14 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company’s revenue was up 12.7% compared to the same quarter last year. In the same quarter last year, the firm earned $2.17 EPS. As a group, research analysts expect that Synopsys will post 9.55 EPS for the current year.

Insider buying and selling

In other Synopsys news, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at $11,339,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In related news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, insider Geus Aart De sold 493 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,830 shares of company stock valued at $42,643,721. Corporate insiders own 0.66% of the company’s shares.

Synopsys Institutional Trading

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Synopsys in the 4th quarter valued at $1,272,143,000. Swedbank AB acquired a new position in shares of Synopsys during the first quarter valued at $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. GQG Partners LLC boosted its stake in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Finally, Sustainable Growth Advisers LP purchased a new position in shares of Synopsys in the second quarter valued at $572,050,000. Institutional investors and hedge funds own 85.47% of the company’s shares.

About Synopsys

(Get a free report)

Synopsys, Inc provides electronic design automation software products used for the design and test of integrated circuits. It operates in three segments: Design Automation, Design IP and Software Integrity. The company offers digital and custom IC design solutions that provide digital design implementation solutions; Verification solution providing virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping and debugging solutions; and FPGA design products that are programmed to perform specific functions.

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