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Synopsys (NASDAQ:SNPS) Losses Neutral Rating from JPMorgan for Underweight

JP Morgan Analyst Rating Change Synopsys NASDAQ:SNPS

Synopsys (NASDAQ:SNPS) Downgrade of Rating

In analysts report revealed to clients on Tuesday morning, equity analysts at JPMorgan’s equity division downgraded Synopsys (NASDAQ:SNPS)’s Stock rating from Neutral to Underweight.

Despite this stock rating downgrade NASDAQ:SNPS is at the moment trading 5.12% higher at $91.21 as of 8:15 AM New York time. Synopsys shares have [From2] 0% in the last 200 days, while the S&P500 has risen 6.00% in the same time.

According to data compiled by Thomson Reuters, Synopsys (NASDAQ:SNPS)’s stock is covered by 6 equity analysts across the Street, with 0 analysts giving it a Sell rating, 5 a Buy rating, while 2 consider it a Hold. The 12-month consensus target price for the stock is $54.67, which reflects an downside potential of 40.06% over the current price.

Institutional Ownership

Robertson Opportunity Capital Llc had the most significant stake with ownership of 135,000 shares as of q2 2015 for 5.87% of the long stock exposure. Bernzott Capital Advisors is another bullish investment manager who is owning 400,189 shares of Synopsys or 4.41% of their long stock exposure. In addition, Alkeon Capital Management Llc have 3.75% of their long stock exposure invested in the company for 3.36M shares. The Illinois-based fund Graybill Bartz & Assoc Ltd disclosed it had purchased so far a stake worth about 2.3% of the investment manager’s stock portfolio in Synopsys. The Ontario – Canada-based fund Black Creek Investment Management Inc. is also positive about the stock, possessing 41,715 shares or 2.01% of their long stock exposure.

Synopsys (NASDAQ:SNPS) Profile

Synopsys IncSynopsys, Inc. provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

Synopsys (NASDAQ:SNPS) traded up 5.12% on 12 December, hitting $91.21. A total of 1.76 million shares of the company’s stock traded hands. This is up from average of 913,203 shares. Synopsys has a 52 week low of $56.03 and a 52 week high of $94.8. The company has a market cap of $13.70 billion and a P/E ratio of 42.85.

Get the latest Synopsys (NASDAQ:SNPS) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Synopsys (NASDAQ:SNPS) Losses Neutral Rating from JPMorgan for Underweight appeared first on Octafinance.



This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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