Zacks Investment Research upgraded shares of Synopsys (NASDAQ:SNPS) from a sell rating to a hold rating in a report released 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.”
Several other analysts have also issued reports on SNPS. DA Davidson reaffirmed a buy rating and set a $105.00 price target (up from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Needham & Company LLC upped their price target on shares of Synopsys from $83.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, November 30th. KeyCorp reaffirmed an overweight rating and set a $106.00 price target (up from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Royal Bank of Canada reaffirmed a buy rating and set a $120.00 price target on shares of Synopsys in a research report on Thursday, November 30th. Finally, TheStreet lowered shares of Synopsys from an a rating to a c+ rating in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $97.33.
Synopsys (NASDAQ:SNPS) traded down $2.44 during midday trading on Friday, reaching $82.36. 783,248 shares of the company’s stock traded hands, compared to its average volume of 990,165. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68. Synopsys has a 1 year low of $70.37 and a 1 year high of $94.80. The company has a market capitalization of $12,611.89, a price-to-earnings ratio of 305.04, a P/E/G ratio of 5.49 and a beta of 1.09.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10. Synopsys had a net margin of 1.63% and a return on equity of 6.72%. The firm had revenue of $769.40 million for the quarter, compared to analyst estimates of $750.43 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. sell-side analysts expect that Synopsys will post 1.54 EPS for the current fiscal year.
In other news, Director Steven Walske sold 4,545 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total value of $409,595.40. Following the transaction, the director now directly owns 14,988 shares of the company’s stock, valued at $1,350,718.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction dated 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 directly owns 209,244 shares in the company, valued at $17,737,613.88. The disclosure for this sale can be found here. Insiders sold 50,318 shares of company stock worth $4,338,754 over the last three months. Insiders own 1.84% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SNPS. Cerebellum GP LLC bought a new position in shares of Synopsys in the fourth quarter valued at about $124,000. Robecosam AG raised its position in shares of Synopsys by 69.2% in the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $188,000 after purchasing an additional 900 shares during the period. IBM Retirement Fund acquired a new position in shares of Synopsys in the fourth quarter valued at about $201,000. Conning Inc. acquired a new position in shares of Synopsys in the fourth quarter valued at about $205,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of Synopsys in the fourth quarter valued at about $205,000. 90.52% of the stock is currently owned by 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.
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