Rosenblatt Securities analyst John McPeake initiated coverage with a Buy rating on Synopsys (SNPS) today and set a price target of $302.00. The company’s shares closed last Tuesday at $253.82.
Synopsys has an analyst consensus of Strong Buy, with a price target consensus of $326.50, a 28.6% upside from current levels. In a report issued on May 20, UBS also maintained a Buy rating on the stock with a $333.00 price target.
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The company has a one-year high of $300.91 and a one-year low of $169.44. Currently, Synopsys has an average volume of 982.8K.
Based on the recent corporate insider activity of 53 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. Last month, Janice Chaffin, a Director at SNPS sold 7,111 shares for a total of $1,727,404.
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California-based Synopsys, Inc. is a software company which develops electronic products and software applications in the electronic design automation (EDA) industry. The firm operates through two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products, system integration solutions and associated services, and (2) Software Integrity, which includes security and quality solutions for software development across many industries.
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