Synopsys, Inc. (SNPS) Expected to Announce Earnings of $0.78 Per Share

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Analysts predict that Synopsys, Inc. (NASDAQ:SNPS) will post $0.78 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Synopsys’ earnings. The lowest EPS estimate is $0.77 and the highest is $0.79. Synopsys reported earnings per share of $0.69 during the same quarter last year, which suggests a positive year-over-year growth rate of 13%. The company is expected to issue its next quarterly earnings results on Wednesday, December 5th.

According to Zacks, analysts expect that Synopsys will report full-year earnings of $3.91 per share for the current year, with EPS estimates ranging from $3.90 to $3.92. For the next financial year, analysts forecast that the business will post earnings of $4.18 per share, with EPS estimates ranging from $4.00 to $4.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Synopsys.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. The business had revenue of $779.70 million for the quarter, compared to analysts’ expectations of $773.61 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS.

A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Tuesday. DA Davidson raised their price objective on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. KeyCorp raised their price objective on shares of Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Synopsys presently has a consensus rating of “Hold” and a consensus target price of $106.14.

Shares of NASDAQ SNPS traded up $2.37 during midday trading on Friday, reaching $88.12. 1,544,035 shares of the stock were exchanged, compared to its average volume of 1,060,921. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of 100.14, a PEG ratio of 6.28 and a beta of 1.18. Synopsys has a twelve month low of $80.13 and a twelve month high of $103.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70.

In other news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the transaction, the general counsel now owns 22,322 shares in the company, valued at approximately $2,276,844. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $101.43, for a total value of $2,028,600.00. Following the transaction, the executive vice president now owns 88,271 shares in the company, valued at approximately $8,953,327.53. The disclosure for this sale can be found here. Insiders have sold a total of 33,609 shares of company stock worth $3,416,177 in the last quarter. Insiders own 1.84% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Stifel Financial Corp lifted its holdings in Synopsys by 1.2% in the 1st quarter. Stifel Financial Corp now owns 56,390 shares of the semiconductor company’s stock valued at $4,693,000 after purchasing an additional 661 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Synopsys by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 893,070 shares of the semiconductor company’s stock valued at $74,339,000 after purchasing an additional 20,989 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Synopsys by 10.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 25,484 shares of the semiconductor company’s stock valued at $2,121,000 after purchasing an additional 2,351 shares in the last quarter. Profund Advisors LLC lifted its holdings in Synopsys by 9.1% in the 1st quarter. Profund Advisors LLC now owns 13,676 shares of the semiconductor company’s stock valued at $1,138,000 after purchasing an additional 1,137 shares in the last quarter. Finally, Rampart Investment Management Company LLC lifted its holdings in Synopsys by 257.6% in the 1st quarter. Rampart Investment Management Company LLC now owns 7,210 shares of the semiconductor company’s stock valued at $600,000 after purchasing an additional 5,194 shares in the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.

About Synopsys

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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