Fintel reports that on September 29, 2023, HSBC initiated coverage of Synopsys (NASDAQ:SNPS) with a Buy recommendation.
Analyst Price Forecast Suggests 7.30% Upside
As of August 31, 2023, the average one-year price target for Synopsys is 494.33. The forecasts range from a low of 424.20 to a high of $540.75. The average price target represents an increase of 7.30% from its latest reported closing price of 460.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Synopsys is 5,913MM, an increase of 6.97%. The projected annual non-GAAP EPS is 10.54.
What is the Fund Sentiment?
There are 2020 funds or institutions reporting positions in Synopsys. This is an increase of 51 owner(s) or 2.59% in the last quarter. Average portfolio weight of all funds dedicated to SNPS is 0.48%, a decrease of 0.25%. Total shares owned by institutions decreased in the last three months by 1.98% to 155,359K shares. 
The put/call ratio of SNPS is 1.47, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 6,198K shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 5,361K shares, representing an increase of 13.50%. The firm increased its portfolio allocation in SNPS by 21.27% over the last quarter.
Price T Rowe Associates holds 5,079K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 5,636K shares, representing a decrease of 10.97%. The firm increased its portfolio allocation in SNPS by 113.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,750K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 4,714K shares, representing an increase of 0.76%. The firm increased its portfolio allocation in SNPS by 4.80% over the last quarter.
Jpmorgan Chase holds 4,194K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 4,676K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in SNPS by 618.11% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,627K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 3,557K shares, representing an increase of 1.93%. The firm increased its portfolio allocation in SNPS by 4.11% 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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