Synopsys (SNPS) Projected to Post Earnings on Wednesday

Synopsys (NASDAQ:SNPS) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Synopsys to post earnings of $2.81 per share and revenue of $1.45 billion for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Synopsys Stock Down 1.0 %

Shares of SNPS stock opened at $470.08 on Tuesday. Synopsys has a 12-month low of $457.52 and a 12-month high of $624.80. The company has a market capitalization of $72.66 billion, a P/E ratio of 32.37, a P/E/G ratio of 3.23 and a beta of 1.12. The firm has a 50-day moving average price of $509.17 and a 200 day moving average price of $517.36.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Wells Fargo & Company dropped their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Piper Sandler dropped their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $637.50.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.