Synopsys (SNPS) Cut to “Underweight” at J P Morgan Chase & Co

Synopsys (NASDAQ:SNPS) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research note issued on Tuesday. They presently have a $87.00 price objective on the semiconductor company’s stock. J P Morgan Chase & Co’s price objective indicates a potential downside of 0.66% from the company’s current price.

A number of other brokerages also recently issued reports on SNPS. TheStreet downgraded shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Needham & Company LLC upped their price objective on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research downgraded shares of Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, December 4th. Royal Bank of Canada upped their price objective on shares of Synopsys from $100.00 to $110.00 and gave the stock a “top pick” rating in a research report on Wednesday, November 22nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $105.00 price objective (up from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $96.89.

Synopsys (NASDAQ SNPS) traded down $1.98 on Tuesday, hitting $87.58. 1,538,000 shares of the company were exchanged, compared to its average volume of 1,064,813. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. Synopsys has a 12 month low of $58.74 and a 12 month high of $94.80. The firm has a market cap of $13,473.85, a price-to-earnings ratio of 73.41, a PEG ratio of 4.38 and a beta of 1.01.

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

In other news, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $90.33, for a total transaction of $451,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $89.78, for a total transaction of $336,675.00. The disclosure for this sale can be found here. Insiders sold a total of 29,824 shares of company stock valued at $2,680,349 over the last ninety days. 1.82% of the stock is currently owned by insiders.

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

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Synopsys Company Profile

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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