Synopsys (NASDAQ:SNPS) Price Target Lowered to $630.00 at Robert W. Baird

Synopsys (NASDAQ:SNPS) had its target price lowered by Robert W. Baird from $644.00 to $630.00 in a research note published on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $650.50.

Synopsys Trading Down 12.4 %

Shares of NASDAQ:SNPS opened at $515.29 on Thursday. Synopsys has a twelve month low of $457.52 and a twelve month high of $629.38. The company’s 50 day moving average is $529.85 and its 200 day moving average is $545.47. The company has a market cap of $79.15 billion, a PE ratio of 53.45, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08.

Hedge Funds Weigh In On Synopsys

Institutional investors have recently bought and sold shares of the company. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter worth about $633,469,000. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the second quarter worth about $572,050,000. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Company Profile

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.