Synopsys (SNPS) Got Some Good News


Robert W. Baird analyst Joseph Vruwink upgraded Synopsys (SNPS) to Buy yesterday and set a price target of $315.00. The company’s shares closed last Wednesday at $279.92, close to its 52-week high of $300.91.

According to TipRanks.com, Vruwink is a 5-star analyst with an average return of 53.4% and a 93.9% success rate. Vruwink covers the Technology sector, focusing on stocks such as Cadence Design, Q2 Holdings, and Realpage.

Currently, the analyst consensus on Synopsys is a Strong Buy with an average price target of $303.13, representing a 5.7% upside. In a report issued on February 10, Wells Fargo also maintained a Buy rating on the stock with a $310.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $300.91 and a one-year low of $104.90. Currently, Synopsys has an average volume of 742.8K.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNPS in relation to earlier this year. Most recently, in December 2020, John Runkel, the GC & Corporate Secretary of SNPS sold 11,006 shares for a total of $2,828,652.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Synopsys, Inc. engages in the provision of software products and consulting services in the electronic design automation industry. The firm operates through the following segments: Semiconductor and System Design, and Software Integrity. It provides intellectual property products, which are pre-designed circuits that engineers use as components of larger chip designs, as well as software and hardware that are used to develop the electronic systems that incorporate chips and the software that runs on the circuits. It also offers technical services to support the customers in industries such as electronics, financial services, energy, and industrials for developing chips and electronic systems. The company was founded by Aart J. de Geus, Bill Krieger, Dave Gregory, and Rick Rudell in December 1986 and is headquartered in Mountain View, CA.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts