Synopsys (SNPS): Notes From The Road - RBC

October 14, 2016 7:09 AM EDT
Get Alerts SNPS Hot Sheet
Price: $60.84 +0.16%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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RBC Capital analyst, Mitch Steves, reiterated his Outperform rating on shares of Synopsys (NASDAQ: SNPS) after holding investor meetings with Trac Pham (CFO) and Nick Taber (IR).

Key takeaways:
1) the software integrity ramp is continuing to go as planned
2) semiconductor IP should continue to sustain double digit growth
3) M&A and buybacks should remain as the primary use cases for the cash balance
4) strategically the Company will focus on maintaining share and reinvesting into software integrity & semiconductor IP
5) despite semiconductor consolidation, R&D spending and the percentage allocated to EDA should remain stable.

No change to the price target of $66.

For an analyst ratings summary and ratings history on Synopsys click here. For more ratings news on Synopsys click here.

Shares of Synopsys closed at $59.48 yesterday.

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