Needham & Company LLC Increases Synopsys, Inc. (SNPS) Price Target to $76.00

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(NASDAQ:SNPS) to report earnings on Feb, 15 for the fiscal quarter ending Jan 2017. The business earned $633.70 million during the quarter, compared to the consensus estimate of $628.39 million. BlackRock Fund Advisors now owns 8,357,428 shares of the company's stock valued at $496,013,000 after buying an additional 242,497 shares during the last quarter.

Shares of Synopsys (NASDAQ:SNPS) opened at 66.26 on Thursday. Let's take a closer look at the current earnings forecast, particularly the things traders should pay close attention to.

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Synopsys, Inc. has a 1-year low of $40.42 and a 1-year high of $66.19. Northern Trust Corp now owns 1,733,665 shares of the company's stock valued at $102,894,000 after buying an additional 14,768 shares during the last quarter. Synopsys had a return on equity of 11.51% and a net margin of 11.01%.

Synopsys, Inc. (NASDAQ:SNPS) witnessed a decline in the market cap on Tuesday as its shares dropped 0.21% or 0.14 points.

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Several research firms have issued reports on SNPS. RBC Capital Markets reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Synopsys in a research note on Tuesday, November 1st. Needham & Company LLC lifted their target price on shares of Synopsys to $76.00 in a research note on Thursday. Credit Suisse Group assumed coverage on shares of Synopsys in a research report on Wednesday, October 19th. The company reported $0.77 earnings per share for the quarter, hitting analysts' consensus estimates of $0.77.

Looking at stock performance, company shares have recently traded $9.266 away from the 50-day moving average of $62.209 and $11.812 away from the 200-day moving average of $59.663. According to Thomson Reuters, analysts are projecting a consensus target price of $66.220 on company stock. SNPS said it had a profit of $0.94 Earnings per Share for the quarter. Zacks Investment Research cut Synopsys from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 5th. The company earned $652.80 million during the quarter, compared to analysts' expectations of $637.73 million. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of global copyright and trademark legislation. Metropolitan Life Insurance Co. The company had a trading volume of 790,853 shares. NY boosted its position in Synopsys by 3.8% in the second quarter. NY now owns 143,256 shares of the company's stock valued at $7,747,000 after buying an additional 5,303 shares during the last quarter. MA increased its stake in Synopsys by 7.2% in the second quarter. Martingale Asset Management L P boosted its position in Synopsys by 27.4% in the second quarter. Bank of New York Mellon Corp now owns 1,554,172 shares of the company's stock valued at $92,240,000 after buying an additional 10,791 shares during the last quarter. The correct version of this story can be read at [[permalink]]. Finally, Benchmark Co. set a $60.00 price objective on Synopsys and gave the company a "hold" rating in a research note on Thursday, December 1st. Wall Street analysts tap into their deep knowledge of the company to help calculate future stock movement. Synopsys has an average rating of Buy and an average price target of $68.67. The companys 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.

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Synopsys, Inc provides software, intellectual property (IP) and services.

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