The stock of Synopsys, Inc. (NASDAQ:SNPS) hit a new 52-week high and has $97.26 target or 59.00% above today’s $61.17 share price. The 7 months bullish chart indicates low risk for the $9.17 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $97.26 price target is reached, the company will be worth $5.41B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 279,093 shares traded hands. Synopsys, Inc. (NASDAQ:SNPS) has risen 28.46% since March 7, 2016 and is uptrending. It has outperformed by 20.87% the S&P500.
Synopsys, Inc. (NASDAQ:SNPS) Ratings Coverage
Out of 5 analysts covering Synopsys Inc. (NASDAQ:SNPS), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Synopsys Inc. has been the topic of 13 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The stock of Synopsys, Inc. (NASDAQ:SNPS) earned “Outperform” rating by RBC Capital Markets on Monday, June 6. The rating was maintained by Pacific Crest with “Buy” on Tuesday, August 25. The stock of Synopsys, Inc. (NASDAQ:SNPS) earned “Hold” rating by Benchmark on Wednesday, September 9. Benchmark maintained Synopsys, Inc. (NASDAQ:SNPS) on Thursday, August 18 with “Hold” rating. Bank of America initiated the stock with “Average” rating in Friday, August 28 report. The rating was maintained by Needham with “Buy” on Thursday, August 18. On Thursday, August 18 the stock rating was maintained by DA Davidson with “Buy”.
According to Zacks Investment Research, “Synopsys, Inc. is one of the leading suppliers of electronic design automation software to the global electronics industry. The company’s products are used by designers of integrated circuits, including system-on-a-chip integrated circuits, and the electronic products that use such integrated circuits to automate significant portions of their chip design process. Integrated circuits are distinguished by the speed at which they run, their area, the amount of power they consume and the cost of production.”
Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.10, from 1.2 in 2016Q1. The ratio worsened, as 29 funds sold all Synopsys, Inc. shares owned while 117 reduced positions. 36 funds bought stakes while 124 increased positions. They now own 135.51 million shares or 1.51% less from 137.58 million shares in 2016Q1.
Aperio Grp Ltd Com accumulated 135,891 shares or 0.06% of the stock. Cipher Cap L P holds 183,039 shares or 0.69% of its portfolio. Ami Asset last reported 1.72% of its portfolio in the stock. Utd Services Automobile Association has 0.06% invested in the company for 328,018 shares. Savings Bank Of New York Mellon accumulated 0.03% or 1.54M shares. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 29,194 shares. Fjarde Ap reported 45,391 shares or 0.06% of all its holdings. Kanaly reported 70 shares or 0% of all its holdings. Lpl Financial Ltd Com last reported 0.01% of its portfolio in the stock. Renaissance Gru Limited Liability Company owns 585,206 shares or 1.35% of their US portfolio. State Of Tennessee Treasury Department accumulated 67,100 shares or 0.02% of the stock. Allianz Asset Mngmt Ag holds 0.01% or 236,150 shares in its portfolio. The North Carolina-based First Citizens State Bank Trust has invested 0.03% in Synopsys, Inc. (NASDAQ:SNPS). Champlain Investment Prtn Limited Liability Corp accumulated 465,285 shares or 0.43% of the stock. Utah Retirement Systems reported 27,562 shares or 0.04% of all its holdings.
Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 12 insider sales for $28.01 million net activity. Shares for $584,436 were sold by CASTINO ALFRED on Monday, September 12. Another trade for 2,000 shares valued at $116,450 was sold by CHAN CHI-FOON. $17.87M worth of shares were sold by DE GEUS AART on Friday, August 19. 15,000 Synopsys, Inc. (NASDAQ:SNPS) shares with value of $785,159 were sold by RUNKEL JOHN F JR. On Friday, May 27 COLEMAN DEBORAH A sold $103,275 worth of the stock or 2,000 shares. BEATTIE BRIAN M had sold 29,300 shares worth $1.53 million. 3,409 shares with value of $199,599 were sold by Kankanwadi Sudhindra on Monday, August 22.
Another recent and important Synopsys, Inc. (NASDAQ:SNPS) news was published by Twst.com which published an article titled: “Synopsys Inc.: Synopsys and TSMC Collaborate on Development of Interface and …” on September 19, 2016.
SNPS Company Profile
Synopsys, Inc., incorporated on May 7, 1987, provides software, intellectual property (IP) and services. The Firm supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits (ICs), also known as chips. The Firm also offers IP products, which are pre-designed circuits that engineers use as components of larger chip creates rather than designing those circuits themselves. The Firm provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. The Firm provides technical services to support its solutions and help its clients develop chips and electronic systems. The Firm is also a well-known provider of software tools that developers use to develop software code in a range of industries, including electronics, financial services, energy and industrials. The Firm offers services and products in four categories: core EDA; IP, Systems and Software Integrity; Manufacturing Solutions, and Professional Services and Other.
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