Analysis: Synopsys Inc (NASDAQ:SNPS) Stock Target Raised Today
In an interesting research report revealed to clients by JP Morgan on Thursday, 3 December, the firm, Synopsys Inc (NASDAQ:SNPS), had their target PPS downgraded to $51.00. Analusts presently have a solid Neutral rating on the stock.
From a total of 8 analysts covering Synopsys Inc. (NASDAQ:SNPS) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 78% of the ratings are positive. The highest target price is $60 while the lowest target price is $51. The mean of all analyst targets is $56.13 with a 16.52% above today’s ($47.63) stock price. Synopsys Inc. was the topic of 6 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Benchmark initiated shares on September 9 with “Hold” rating. Pacific Crest maintained SNPS stock in a recent report from August 25 with “Buy” rating.
Approximately 927,284 shares of stock traded hands or 15.11% up from the average. Synopsys, Inc. (NASDAQ:SNPS) has risen 6.72% since April 30, 2015 and is uptrending. It has outperformed by 7.01% the S&P500.
Synopsys, Inc. is engaged in providing technology solutions used to develop electronics and electronic systems. The company has a market cap of $7.79 billion. It supplies the electronic design automation software that engineers use to design, create prototypes for and test integrated circuits, also known as chips. It has 31.55 P/E ratio. It also supplies software and hardware used to develop the systems that incorporate integrated circuits and the software that runs on those integrated circuits.
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.” Get a free copy of the Zacks research report on Synopsys, Inc. (SNPS).