Wells Fargo & Co Increases Synopsys (NASDAQ:SNPS) Price Target to $185.00
Synopsys (NASDAQ:SNPS) had its price objective raised by Wells Fargo & Co from $180.00 to $185.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Co‘s target price would suggest a potential upside of 8.12% from the stock’s current price.
A number of other research analysts have also recently weighed in on SNPS. Bank of America restated a “buy” rating and set a $170.00 target price on shares of Synopsys in a research note on Wednesday, March 11th. Benchmark lifted their target price on shares of Synopsys from $150.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson restated a “buy” rating and set a $200.00 target price on shares of Synopsys in a research note on Thursday, February 20th. KeyCorp lifted their price target on shares of Synopsys from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Atlantic Securities assumed coverage on shares of Synopsys in a report on Tuesday, February 18th. They issued an “overweight” rating and a $200.00 price target on the stock. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $181.69.
Shares of Synopsys stock traded up $2.62 on Thursday, hitting $171.11. 975,349 shares of the company’s stock were exchanged, compared to its average volume of 991,832. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.95. Synopsys has a 1 year low of $104.90 and a 1 year high of $171.47. The company has a 50-day simple moving average of $149.46 and a 200-day simple moving average of $142.90. The stock has a market capitalization of $25.36 billion, a PE ratio of 55.74, a PEG ratio of 3.01 and a beta of 1.14.
In other news, General Counsel John F. Runkel, Jr. sold 5,000 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $135.00, for a total value of $675,000.00. Following the sale, the general counsel now directly owns 23,736 shares in the company, valued at approximately $3,204,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Chizen sold 25,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $153.63, for a total transaction of $3,840,750.00. Following the completion of the sale, the director now owns 13,165 shares in the company, valued at $2,022,538.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock worth $5,886,250. Insiders own 1.84% of the company’s stock.
A number of large investors have recently modified their holdings of SNPS. FMR LLC grew its holdings in Synopsys by 1.1% during the 1st quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock valued at $29,613,000 after purchasing an additional 2,914 shares during the last quarter. AE Wealth Management LLC bought a new position in Synopsys during the 4th quarter valued at about $217,000. Steward Partners Investment Advisory LLC grew its holdings in Synopsys by 24.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,549 shares of the semiconductor company’s stock valued at $633,000 after purchasing an additional 907 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Synopsys by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,390 shares of the semiconductor company’s stock valued at $5,065,000 after purchasing an additional 2,351 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in Synopsys by 4.0% during the 4th quarter. Wealthfront Advisers LLC now owns 9,147 shares of the semiconductor company’s stock valued at $1,273,000 after purchasing an additional 354 shares during the last quarter. Institutional investors own 87.30% 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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