Fintel reports that on June 5, 2023, Wells Fargo maintained coverage of Synopsys (NASDAQ:SNPS) with a Overweight recommendation.
Analyst Price Forecast Suggests 0.58% Downside
As of June 1, 2023, the average one-year price target for Synopsys is 446.76. The forecasts range from a low of 414.10 to a high of $509.25. The average price target represents a decrease of 0.58% from its latest reported closing price of 449.36.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Synopsys is 5,913MM, an increase of 11.81%. The projected annual non-GAAP EPS is 10.54.
What is the Fund Sentiment?
There are 1953 funds or institutions reporting positions in Synopsys. This is an increase of 5 owner(s) or 0.26% in the last quarter. Average portfolio weight of all funds dedicated to SNPS is 0.47%, an increase of 1.14%. Total shares owned by institutions decreased in the last three months by 1.32% to 158,122K shares. 
The put/call ratio of SNPS is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 5,636K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 5,390K shares, representing an increase of 4.36%. The firm increased its portfolio allocation in SNPS by 17.71% over the last quarter.
Capital World Investors holds 5,361K shares representing 3.52% ownership of the company. In it's prior filing, the firm reported owning 4,890K shares, representing an increase of 8.78%. The firm increased its portfolio allocation in SNPS by 28.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,714K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 4,648K shares, representing an increase of 1.41%. The firm increased its portfolio allocation in SNPS by 13.30% over the last quarter.
Jpmorgan Chase holds 4,676K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 4,783K shares, representing a decrease of 2.28%. The firm increased its portfolio allocation in SNPS by 9.30% over the last quarter.
Franklin Resources holds 3,689K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 3,836K shares, representing a decrease of 3.98%. The firm decreased its portfolio allocation in SNPS by 75.09% 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.
Key filings for this company:
This story originally appeared on Fintel.
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