In a report released yesterday, Pradeep Ramani from UBS maintained a Buy rating on Synopsys (SNPS), with a price target of $265.00. The company’s shares closed last Wednesday at $226.81, close to its 52-week high of $232.74.
Synopsys has an analyst consensus of Strong Buy, with a price target consensus of $231.44, representing a 1.0% upside. In a report issued on October 9, RBC Capital also maintained a Buy rating on the stock with a $245.00 price target.
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Based on Synopsys’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $964 million and net profit of $253 million. In comparison, last year the company earned revenue of $853 million and had a net profit of $99.93 million.
Based on the recent corporate insider activity of 59 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. Earlier this month, John Runkel, the GC & Corporate Secretary of SNPS sold 9,705 shares for a total of $2,096,280.
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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.
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