Synopsys (SNPS) Receives New Coverage from Analysts at Wells Fargo & Co

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Wells Fargo & Co began coverage on shares of Synopsys (NASDAQ:SNPS) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm issued an outperform rating and a $135.00 price target on the semiconductor company’s stock.

Several other research firms have also commented on SNPS. BidaskClub raised Synopsys from a buy rating to a strong-buy rating in a report on Wednesday, March 13th. Zacks Investment Research raised Synopsys from a hold rating to a strong-buy rating and set a $117.00 target price for the company in a report on Monday, February 25th. Needham & Company LLC reaffirmed a buy rating and set a $120.00 target price on shares of Synopsys in a report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on Synopsys from $130.00 to $140.00 and gave the stock a top pick rating in a report on Thursday, April 11th. Finally, DA Davidson increased their price objective on Synopsys to $125.00 and gave the stock a positive rating in a report on Thursday, February 21st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $121.10.

Shares of SNPS stock opened at $121.39 on Tuesday. The firm has a market cap of $18.44 billion, a P/E ratio of 43.05, a PEG ratio of 3.89 and a beta of 1.30. Synopsys has a 1 year low of $79.14 and a 1 year high of $124.12. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.51. The firm had revenue of $820.40 million during the quarter, compared to analysts’ expectations of $796.30 million. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. Synopsys’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. As a group, research analysts predict that Synopsys will post 3.17 earnings per share for the current year.

In other news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $101.71, for a total transaction of $1,017,100.00. Following the completion of the sale, the general counsel now owns 21,071 shares in the company, valued at approximately $2,143,131.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $109.51, for a total value of $547,550.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,190 shares of company stock valued at $14,729,218. 1.84% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Securian Asset Management Inc increased its stake in shares of Synopsys by 0.6% in the first quarter. Securian Asset Management Inc now owns 15,405 shares of the semiconductor company’s stock worth $1,774,000 after acquiring an additional 97 shares during the last quarter. State of Alaska Department of Revenue raised its position in Synopsys by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 37,607 shares of the semiconductor company’s stock worth $4,327,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Synopsys by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $910,000 after purchasing an additional 100 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in Synopsys by 78.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Finally, HL Financial Services LLC raised its position in Synopsys by 1.3% in the 4th quarter. HL Financial Services LLC now owns 7,905 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 91.17% of the company’s stock.

About Synopsys

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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