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Does Synopsys Inc.’s (NASDAQ:SNPS) Current Price Make It Worth Investing In?

During the recent session, Synopsys Inc. (NASDAQ:SNPS)’s traded shares were 0.75 million, with the beta value of the company hitting 1.16. At the last check today, the stock’s price was $429.27, reflecting an intraday gain of 8.57% or $33.88. The 52-week high for the SNPS share is $418.40, that puts it up 2.53 from that peak though still a striking 37.8% gain since the share price plummeted to a 52-week low of $267.00. The company’s market capitalization is $60.40B, and the average intraday trading volume over the past 10 days was 1.02 million shares, and the average trade volume was 774.66K shares over the past three months.

Synopsys Inc. (SNPS) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.60. SNPS has a Sell rating from 0 analyst(s) out of 15 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 3 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.74.

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Synopsys Inc. (NASDAQ:SNPS) trade information

Synopsys Inc. (SNPS) registered a 8.57% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.57% in intraday trading to $429.27 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 4.77%, and it has moved by 17.58% in 30 days. Based on these gigs, the overall price performance for the year is 44.84%. The short interest in Synopsys Inc. (NASDAQ:SNPS) is 1.35 million shares and it means that shorts have 2 day(s) to cover.

The consensus price target of analysts on Wall Street is $437.23, which implies an increase of 1.82% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $410.00 and $470.00 respectively. As a result, SNPS is trading at a discount of -9.49% off the target high and 4.49% off the low.

Synopsys Inc. (SNPS) estimates and forecasts

Statistics show that Synopsys Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Synopsys Inc. (SNPS) shares have gone up 31.29% during the last six months, with a year-to-date growth rate more than the industry average at 19.10% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 30.50% this quarter and then jump 53.90% in the quarter after that. In the rating firms’ projections, revenue will increase 14.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.48 billion as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $1.58 billion by the end of Oct 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.25 billion and $1.28 billion respectively. In this case, analysts expect current quarter sales to grow by 18.80% and then jump by 22.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 48.10%. While earnings are projected to return 30.70% in 2023, the next five years will return 17.02% per annum.

SNPS Dividends

Synopsys Inc. is due to release its next quarterly earnings between August 15 and August 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Synopsys Inc. (NASDAQ:SNPS)’s Major holders

Synopsys Inc. insiders own 0.60% of total outstanding shares while institutional holders control 95.10%, with the float percentage being 95.68%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,417 institutions own stock in it. As of Mar 30, 2023, the company held over 13.31 million shares (or 8.75% of all shares), a total value of $5.14 billion in shares.

The next largest institutional holding, with 12.73 million shares, is of Blackrock Inc.’s that is approximately 8.36% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $4.92 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Synopsys Inc. (SNPS) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 4.65 million shares. This amounts to just over 3.05 percent of the company’s overall shares, with a $1.48 billion market value. The same data shows that the other fund manager holds slightly less at 3.53 million, or about 2.32% of the stock, which is worth about $1.13 billion.

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