Synopsys (NASDAQ:SNPS) was upgraded by analysts at Benchmark from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm currently has a $110.00 price target on the semiconductor company’s stock. Benchmark’s price objective suggests a potential upside of 25.26% from the stock’s previous close.
Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, November 27th. Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, November 20th. They set a “buy” rating and a $119.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Synopsys from an “underweight” rating to a “neutral” rating and set a $98.00 price objective on the stock in a research report on Tuesday, October 23rd. BidaskClub downgraded shares of Synopsys from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, DA Davidson lifted their price target on shares of Synopsys to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $108.50.
Shares of SNPS stock opened at $87.82 on Thursday. The firm has a market cap of $13.55 billion, a PE ratio of 31.14, a PEG ratio of 3.20 and a beta of 1.29. Synopsys has a one year low of $80.13 and a one year high of $103.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.70 and a current ratio of 0.73.
A number of hedge funds and other institutional investors have recently made changes to their positions in SNPS. Ancora Advisors LLC bought a new stake in Synopsys in the 3rd quarter valued at $101,000. Fort L.P. bought a new stake in Synopsys in the 2nd quarter valued at $117,000. Piedmont Investment Advisors LLC bought a new stake in Synopsys in the 2nd quarter valued at $149,000. Diversified Trust Co bought a new stake in Synopsys in the 3rd quarter valued at $200,000. Finally, IFP Advisors Inc increased its holdings in Synopsys by 264.0% in the 3rd quarter. IFP Advisors Inc now owns 2,042 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 1,481 shares during the last quarter. Institutional investors own 89.63% of the company’s stock.
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides 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.
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