Tech giants grapple with volatile market shifts as geopolitical tensions and competitive pressures reshape the semiconductor landscape. Shares of Synopsys Inc (NASDAQ:SNPS) tanked in early trading on Wednesday, after the company reported downbeat fiscal third-quarter results.
Here are some takeaways from analysts:
- BofA Securities analyst Vivek Arya downgraded the rating from Buy to Underperform, while slashing the price target from $625 to $525.
- Needham analyst Charles Shi maintained a Buy rating, while reducing the price target from $660 to $550.
Check out other analyst stock ratings.
BofA Securities: Synopsys reported a surprise miss in IP deliveries, Arya said in the downgrade note. The company’s design IP business missed fiscal third-quarter expectations by around $140 …