Synopsys (NASDAQ:SNPS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Synopsys is a vendor of electronic design automation (EDA) software to the semiconductor and electronics industries. Estimates for the stock have remained stable, of late. The company’s sustained focus on introducing new products, acquisitions and deal wins will continue to boost results, going ahead. Moreover, unique intellectual properties and global support provided by Synopsys will likely drive its forthcoming results. Additionally, acquisitions with the likes of Phoenix Software and Kilopass will continue to help Synopsys building product portfolio and stimulate long-term growth. Notably, shares of Synopsys have outperformed the industry in a year’s time. Nonetheless, its escalating costs and expenses, which are thwarting margins, make us increasingly cautious about its near-term profitability. Furthermore, competition from peers and uncertainty surrounding the exact time of realizing acquisition synergies keep us cautious.”
SNPS has been the subject of a number of other research reports. DA Davidson reiterated a “buy” rating and set a $105.00 price target (up previously from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Royal Bank of Canada reiterated a “buy” rating and set a $120.00 price target on shares of Synopsys in a research note on Thursday, November 30th. Needham & Company LLC increased their price target on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, TheStreet cut shares of Synopsys from an “a” rating to a “c+” rating in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $97.33.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.10. The firm had revenue of $769.40 million during the quarter, compared to analysts’ expectations of $750.43 million. Synopsys had a net margin of 1.63% and a return on equity of 6.72%. Synopsys’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. analysts anticipate that Synopsys will post 1.54 earnings per share for the current fiscal year.
In other Synopsys news, CEO Chi-Foon Chan sold 3,609 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $84.77, for a total transaction of $305,934.93. Following the completion of the transaction, the chief executive officer now owns 209,244 shares in the company, valued at approximately $17,737,613.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven Walske sold 4,545 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $90.12, for a total transaction of $409,595.40. Following the transaction, the director now owns 14,988 shares of the company’s stock, valued at approximately $1,350,718.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,318 shares of company stock valued at $4,338,754. 1.84% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new position in shares of Synopsys in the 4th quarter valued at about $124,000. Robecosam AG grew its stake in Synopsys by 69.2% in the 4th quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $188,000 after acquiring an additional 900 shares during the last quarter. IBM Retirement Fund acquired a new stake in Synopsys in the 4th quarter valued at about $201,000. Conning Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth about $205,000. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of Synopsys during the 4th quarter worth about $205,000. Institutional investors own 90.52% of the company’s stock.
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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.
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