Fintel reports that on November 22, 2024, Wells Fargo initiated coverage of Synopsys (NasdaqGS:SNPS) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 16.02% Upside
As of November 21, 2024, the average one-year price target for Synopsys is $656.19/share. The forecasts range from a low of $501.08 to a high of $743.17. The average price target represents an increase of 16.02% from its latest reported closing price of $565.57 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Synopsys is 6,555MM, an increase of 1.10%. The projected annual non-GAAP EPS is 11.85.
What is the Fund Sentiment?
There are 2,346 funds or institutions reporting positions in Synopsys. This is an decrease of 42 owner(s) or 1.76% in the last quarter. Average portfolio weight of all funds dedicated to SNPS is 0.42%, an increase of 8.49%. Total shares owned by institutions increased in the last three months by 0.69% to 163,813K shares. 
The put/call ratio of SNPS is 1.04, indicating a bearish outlook.
What are Other Shareholders Doing?
BlackRock holds 13,246K shares representing 8.62% ownership of the company.
Capital World Investors holds 7,165K shares representing 4.66% ownership of the company. In its prior filing, the firm reported owning 7,395K shares , representing a decrease of 3.21%. The firm decreased its portfolio allocation in SNPS by 21.61% over the last quarter.
Price T Rowe Associates holds 4,857K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 5,548K shares , representing a decrease of 14.22%. The firm decreased its portfolio allocation in SNPS by 64.21% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,840K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 4,795K shares , representing an increase of 0.93%. The firm increased its portfolio allocation in SNPS by 2.20% over the last quarter.
Jpmorgan Chase holds 4,054K shares representing 2.64% ownership of the company. In its prior filing, the firm reported owning 5,917K shares , representing a decrease of 45.96%. The firm decreased its portfolio allocation in SNPS by 96.36% over the last quarter.
Synopsys Background Information
(This description is provided by the company.)
Synopsys, is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products.
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This story originally appeared on Fintel.
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