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Synopsys (SNPS): New Buy Recommendation for This Technology Giant

In a report released yesterday, Blair Abernethy from Rosenblatt Securities maintained a Buy rating on Synopsys (SNPSResearch Report). The company’s shares closed last Monday at $340.15.

According to TipRanks.com, Abernethy is a 3-star analyst with an average return of 2.1% and a 52.1% success rate. Abernethy covers the Technology sector, focusing on stocks such as Altair Engineering, Cadence Design, and PDF Solutions.

Synopsys has an analyst consensus of Strong Buy, with a price target consensus of $394.29.

See the top stocks recommended by analysts >>

Synopsys’ market cap is currently $51.29B and has a P/E ratio of 57.94.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNPS in relation to earlier this year. Most recently, in February 2022, Joseph Logan, the CRO of SNPS sold 86,973 shares for a total of $25,169,116.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

California-based Synopsys, Inc. is a software company which develops electronic products and software applications in the electronic design automation (EDA) industry. The firm operates through two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products, system integration solutions and associated services, and (2) Software Integrity, which includes security and quality solutions for software development across many industries.

Read More on SNPS:

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