J P Morgan Chase & Co Reiterates Underweight Rating for Synopsys (SNPS)

Synopsys (NASDAQ:SNPS)‘s stock had its “underweight” rating reissued by equities researchers at J P Morgan Chase & Co in a report issued on Thursday.

A number of other analysts also recently issued reports on SNPS. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Credit Suisse Group reaffirmed a “positive” rating and set a $90.00 price target (up previously from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. Needham & Company LLC raised their price target on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 30th. TheStreet downgraded shares of Synopsys from an “a” rating to a “c+” rating in a report on Wednesday, November 29th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $106.00 price target (up previously from $86.00) on shares of Synopsys in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $98.13.

Shares of Synopsys (NASDAQ:SNPS) traded down $0.95 during midday trading on Thursday, hitting $89.56. 1,312,000 shares of the stock were exchanged, compared to its average volume of 1,062,825. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.04. The stock has a market cap of $13,616.78, a P/E ratio of 74.19, a PEG ratio of 4.42 and a beta of 1.01. Synopsys has a 12-month low of $58.58 and a 12-month high of $94.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The firm had revenue of $696.60 million for the quarter, compared to the consensus estimate of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. equities research analysts forecast that Synopsys will post 2.24 EPS for the current fiscal year.

In related news, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $90.33, for a total value of $451,650.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Chrysostomos L. Nikias sold 21,074 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $1,892,023.72. The disclosure for this sale can be found here. In the last three months, insiders sold 29,824 shares of company stock worth $2,680,349. 1.82% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. lifted its holdings in Synopsys by 11.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 147 shares in the last quarter. IFP Advisors Inc lifted its holdings in Synopsys by 40.4% during the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 415 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in Synopsys by 3.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 55 shares in the last quarter. Advisor Group Inc. lifted its holdings in Synopsys by 14.3% during the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after purchasing an additional 327 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Synopsys during the second quarter valued at approximately $200,000. 89.82% of the stock is currently owned by institutional investors.

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About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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