Piper Sandler Adjusts Synopsys Price Target

Piper Sandler, an investment banking firm, has reduced its price target for Synopsys (NASDAQ: SNPS) from $670.00 to $655.00. In their research report released on Friday, they maintained an "overweight" rating for the semiconductor company. The new price target suggests a potential upside of 27.11% based on Synopsys's current trading price.

Additional Analyst Insights

Other financial analysts have shared their views on Synopsys recently. Needham & Company LLC reaffirmed a "buy" rating, setting a price target of $640.00 for the stock. JPMorgan Chase & Co. raised their price target for Synopsys from $655.00 to $685.00 and also assigned an "overweight" rating as of August 22nd. Meanwhile, Rosenblatt Securities maintained a "buy" rating with a price objective of $635.00 in their report published on Wednesday. Additionally, Loop Capital initiated coverage on Synopsys, giving it a "buy" rating and a target price of $675.00. Wells Fargo & Company also began coverage on Synopsys, assigning an "equal weight" rating with a target price of $570.00. Currently, one analyst has placed a hold rating on the stock, while ten others have given it a buy rating. For context, Synopsys has an average rating of "Moderate Buy" and a consensus target price of $649.00 according to MarketBeat data.

Current Market Performance

On Friday, Synopsys opened at $515.29. The company has a market capitalization of $79.15 billion and reports a price-to-earnings (P/E) ratio of 53.45, with a price-to-earnings to growth (P/E/G) ratio of 3.48. Its stock beta stands at 1.08. Over the past year, Synopsys's stock has witnessed a low of $457.52 and a high of $629.38, while the fifty-day moving average price is $529.85 and the 200-day moving average price is $545.47.

Institutional Investor Movements

Institutional investors have been actively managing their positions in Synopsys. For instance, ORG Partners LLC increased its holdings in the company by 600.0% during the second quarter, now owning 42 shares valued at $25,000 after acquiring an additional 36 shares. Chris Bulman Inc has also recently purchased shares worth about $30,000. Pacifica Partners Inc. and Tsfg LLC have made new investments in Synopsys, with Tsfg LLC increasing its position by 75.0% during the third quarter. As of now, approximately 85.47% of Synopsys's stock is held by institutional investors.

About Synopsys

Synopsys, Inc. specializes in electronic design automation software products that are essential for designing and testing integrated circuits. The company operates through three main segments: Design Automation, Design IP, and Software Integrity. It provides a range of solutions, including digital design implementation and verification services that involve virtual prototyping and simulation, among others.

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