The stock of Synopsys, Inc. (NASDAQ:SNPS) reached all time high today, Oct, 10 and still has $94.53 target or 55.00% above today’s $60.99 share price. This indicates more upside for the $9.14 billion company. This technical setup was reported by Barchart.com. If the $94.53 PT is reached, the company will be worth $5.03B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 392,583 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 rating was maintained by DA Davidson on Thursday, August 18 with “Buy”. The firm earned “Hold” rating on Wednesday, September 9 by Benchmark. The company was initiated on Monday, June 6 by RBC Capital Markets. The company was maintained on Thursday, August 18 by Needham. The firm earned “Buy” rating on Tuesday, August 25 by Pacific Crest. The firm has “Hold” rating by Benchmark given on Thursday, August 18. The rating was initiated by Bank of America on Friday, August 28 with “Average”.
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 Q2 2016. Its down 0.10, from 1.2 in 2016Q1. The ratio turned negative, 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.
Cibc Asset Mngmt Incorporated holds 0.01% or 15,543 shares in its portfolio. Oakbrook Invs Ltd Liability Company holds 0.04% or 14,500 shares in its portfolio. Cetera Advsr Limited Com has 0.03% invested in the company for 7,352 shares. California Pub Employees Retirement Sys holds 0.04% of its portfolio in Synopsys, Inc. (NASDAQ:SNPS) for 426,560 shares. Analytic Lc accumulated 366,694 shares or 0.23% of the stock. Cantab Prtnrs Limited Liability Partnership has 11,282 shares for 0% of their US portfolio. Renaissance Group Ltd Limited Liability Company has 1.35% invested in the company for 585,206 shares. Putnam Lc accumulated 0.01% or 83,294 shares. Federated Invsts Pa has 100,520 shares for 0.02% of their US portfolio. The New York-based New York State Common Retirement Fund has invested 0.04% in Synopsys, Inc. (NASDAQ:SNPS). Goldman Sachs Grp Inc last reported 1.74M shares in the company. Congress Asset Mgmt Com Ma last reported 0.99% of its portfolio in the stock. Tci Wealth Incorporated reported 28 shares or 0% of all its holdings. Lpl Fin Lc last reported 17,954 shares in the company. Hutchin Hill Lp accumulated 0.05% or 27,800 shares.
Insider Transactions: Since May 20, 2016, the stock had 0 insider buys, and 12 insider sales for $28.01 million net activity. Another trade for 5,000 shares valued at $266,186 was sold by CASTINO ALFRED. BEATTIE BRIAN M had sold 29,300 shares worth $1.53M. $116,450 worth of Synopsys, Inc. (NASDAQ:SNPS) was sold by CHAN CHI-FOON. DE GEUS AART had sold 306,000 shares worth $17.87 million on Friday, August 19. COLEMAN DEBORAH A had sold 2,000 shares worth $103,275 on Friday, May 27. The insider RUNKEL JOHN F JR sold 15,000 shares worth $785,159. Kankanwadi Sudhindra sold 3,409 shares worth $199,599.
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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