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

Synopsys (NASDAQ:SNPS) had its target price dropped by equities research analysts at Robert W. Baird from $644.00 to $630.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price objective indicates a potential upside of 21.79% from the company’s previous close.

Several other research firms have also recently weighed in on SNPS. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler reduced their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $649.00.

Synopsys Price Performance

NASDAQ:SNPS opened at $517.28 on Thursday. Synopsys has a one year low of $457.52 and a one year high of $629.38. The company has a fifty day moving average price of $529.85 and a 200 day moving average price of $545.47. The stock has a market cap of $79.46 billion, a P/E ratio of 35.63, a PEG ratio of 3.48 and a beta of 1.08.

Hedge Funds Weigh In On Synopsys

Several institutional investors have recently added to or reduced their stakes in the company. Andina Capital Management LLC raised its position in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its holdings in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its position in Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after acquiring an additional 22 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

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.