Synopsys (SNPS) Upgraded to “Buy” by Benchmark

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.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, December 5th. The semiconductor company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.37. The firm had revenue of $795.08 million for the quarter, compared to the consensus estimate of $794.55 million. Synopsys had a net margin of 13.86% and a return on equity of 16.91%. On average, equities analysts forecast that Synopsys will post 2.85 EPS for the current fiscal year.

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.

About Synopsys

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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Analyst Recommendations for Synopsys (NASDAQ:SNPS)

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