Piper Sandler Adjusts Synopsys Price Target to $655.00

Piper Sandler, an investment firm, has adjusted its price target for Synopsys (NASDAQ:SNPS) from $670.00 to $655.00, as reported in a note issued on Friday. Despite the reduction in the target price, Piper Sandler maintains an "overweight" rating on the semiconductor company’s stock, suggesting that there is still significant potential for growth. The new price target implies a possible upside of approximately 27.11% based on Synopsys's current trading price.

Recent Analyst Ratings for Synopsys

In addition to Piper Sandler's revision, several other research firms have also provided insights into Synopsys's stock performance. Needham & Company reasserted a "buy" rating, setting a target price of $640.00. On the other hand, JPMorgan Chase increased its target from $655.00 to $685.00, sustaining an "overweight" rating as well.

Furthermore, Rosenblatt Securities reiterated a "buy" rating with a price goal of $635.00. Loop Capital initiated its coverage of Synopsys recently, giving it a "buy" rating and targeting $675.00. Wells Fargo also began its coverage, marking their stance as "equal weight" with a target price of $570.00. Currently, analysts have provided a range of recommendations on the stock, with one suggesting a hold and ten recommending buys. According to MarketBeat, Synopsys boasts an average rating of "Moderate Buy" with a consensus target price standing at $649.00.

Current Stock Performance

As of Friday's opening, Synopsys traded at $515.29, giving it a market capitalization of $79.15 billion. The stock exhibits a price-to-earnings (P/E) ratio of 53.45, a P/E growth (P/E/G) ratio of 3.48, and a beta of 1.08, indicating a similar level of volatility to the broader market. Over the past year, the stock has registered a low of $457.52 and a high of $629.38, reflecting its volatility. The 50-day moving average is $529.85, while the 200-day moving average is $545.47.

Institutional Investor Engagement

Institutional investors are actively managing their stakes in Synopsys. For instance, ORG Partners LLC significantly increased its holdings by 600% in the second quarter, now owning 42 shares valued at $25,000. Other notable transactions include investments from Chris Bulman Inc and Pacifica Partners Inc. Overall, approximately 85.47% of Synopsys's stock is held by institutional investors, reflecting robust interest from large financial entities.

Understanding Synopsys

Synopsys, Inc. specializes in electronic design automation software products, which are essential for designing and testing integrated circuits. The company operates across three segments: Design Automation, Design IP, and Software Integrity. Its offerings include solutions for digital design implementation, verification, and FPGA design products tailored for specific functions.

Synopsys, Investment, Analyst