Synopsys (NASDAQ:SNPS) Given New $152.00 Price Target at KeyCorp

Synopsys (NASDAQ:SNPS) had its target price lifted by KeyCorp from $135.00 to $152.00 in a research report report published on Friday, The Fly reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a buy rating and issued a $120.00 price target on shares of Synopsys in a report on Wednesday, April 3rd. Zacks Investment Research raised shares of Hudson Technologies from a sell rating to a hold rating in a report on Wednesday, May 29th. Royal Bank of Canada upped their price target on shares of Synopsys from $130.00 to $140.00 and gave the company a top pick rating in a report on Thursday, April 11th. Wells Fargo & Co assumed coverage on shares of Semtech in a report on Tuesday, May 14th. They issued an outperform rating and a $48.03 price target for the company. Finally, Bank of America set a $4.00 price target on shares of GameStop and gave the company a sell rating in a report on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $125.89.

Shares of SNPS opened at $137.46 on Friday. The firm has a 50-day moving average of $127.16. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 4.12 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. Synopsys has a 52-week low of $79.14 and a 52-week high of $137.88.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $836.20 million during the quarter, compared to analyst estimates of $829.41 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. Synopsys’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. As a group, research analysts anticipate that Synopsys will post 3.03 earnings per share for the current fiscal year.

In other Synopsys news, CEO Chi-Foon Chan sold 5,105 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $117.15, for a total transaction of $598,050.75. Following the completion of the sale, the chief executive officer now directly owns 204,117 shares of the company’s stock, valued at $23,912,306.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sudhindra Kankanwadi sold 3,133 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $121.88, for a total transaction of $381,850.04. Following the sale, the vice president now directly owns 8,416 shares of the company’s stock, valued at $1,025,742.08. The disclosure for this sale can be found here. Insiders sold a total of 207,180 shares of company stock valued at $24,653,559 over the last three months. 1.84% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of SNPS. Flagship Harbor Advisors LLC lifted its stake in Synopsys by 78.7% during the first quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Tompkins Financial Corp lifted its stake in Synopsys by 63.7% during the first quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. Executive Wealth Management LLC purchased a new stake in Synopsys during the fourth quarter valued at about $29,000. Hanseatic Management Services Inc. purchased a new stake in Synopsys during the first quarter valued at about $30,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Synopsys by 16,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 850 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 845 shares in the last quarter. 91.72% of the stock is owned by institutional investors.

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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