Synopsys (NASDAQ:SNPS) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Synopsys (NASDAQ:SNPS) in a research note issued to investors on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $660.00 price target on the semiconductor company’s stock.

SNPS has been the subject of a number of other research reports. Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company dropped their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Performance

Shares of SNPS opened at $454.71 on Tuesday. The firm has a market capitalization of $70.29 billion, a PE ratio of 31.32, a P/E/G ratio of 3.23 and a beta of 1.12. The stock has a 50 day simple moving average of $506.84 and a 200 day simple moving average of $516.13. Synopsys has a 52-week low of $454.05 and a 52-week high of $624.80.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the 4th quarter valued at $27,000. Ameriflex Group Inc. acquired a new stake in shares of Synopsys in the 4th quarter worth about $29,000. Whipplewood Advisors LLC bought a new position in Synopsys in the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the 4th quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

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.