Pacific Crest Maintains Synopsys to Overweight with Price Target $64.00

Brokerage firm Pacific Crest Maintains its rating on Synopsys(NASDAQ:SNPS). In a research note issued to the investors, the brokerage major Raises the price-target to $64.00 per share. The shares have been rated Overweight. The rating by Pacific Crest was issued on Aug 18, 2016.

In a different note, RBC Capital said it Initiates Coverage on Synopsys, according to a research note issued on Jun 6, 2016. The shares have been rated ‘Outperform’ by the firm.

Synopsys (SNPS) made into the market gainers list on Mondays trading session with the shares advancing 0.25% or 0.15 points. Due to strong positive momentum, the stock ended at $59.29, which is also near the day’s high of $59.52. The stock began the session at $59.09 and the volume stood at 5,36,489 shares. The 52-week high of the shares is $59.29 and the 52 week low is $39.26. The company has a current market capitalization of $8,973 M and it has 15,13,38,880 shares in outstanding.

Synopsys(SNPS) last announced its earnings results on Aug 17, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $615.20M. Analysts had an estimated revenue of $602.89M. Earnings per share were $0.76. Analysts had estimated an EPS of $0.74.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Brian M Beattie (EVP, Business Ops. & CAO) sold 29,300 shares at $52.18 per share price.Also, On Jun 10, 2016, Alfred Castino (director) sold 5,000 shares at $53.24 per share price.On Jun 3, 2016, John F Jr Runkel (General Counsel &) sold 15,000 shares at $52.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Synopsys Inc. provides software intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits also known as chips. It also offers IP products which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves. It provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. It provides technical services to support its solutions and help its customers develop chips and electronic systems. It is also a provider of software tools that developers use to develop software code in a range of industries including electronics financial services energy and industrials. It offers products and services in four categories: core EDA; IP Systems and Software Integrity; Manufacturing Solutions and Professional Services and Other.

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