Analysts expect Synopsys, Inc. (NASDAQ:SNPS) to announce $849.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Synopsys’ earnings, with estimates ranging from $845.00 million to $854.10 million. Synopsys reported sales of $795.08 million during the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, December 4th.
According to Zacks, analysts expect that Synopsys will report full-year sales of $3.35 billion for the current financial year, with estimates ranging from $3.33 billion to $3.36 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.60 billion, with estimates ranging from $3.55 billion to $3.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Synopsys.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. Synopsys’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS.
A number of equities research analysts have recently weighed in on SNPS shares. DA Davidson boosted their target price on Synopsys to $155.00 and gave the stock a “positive” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Needham & Company LLC set a $145.00 target price on Synopsys and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Co restated an “outperform” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Bank of America initiated coverage on Synopsys in a research note on Monday, September 23rd. They set a “buy” rating and a $171.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $145.64.
In other news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $137.47, for a total value of $1,374,700.00. Following the transaction, the general counsel now owns 16,848 shares in the company, valued at approximately $2,316,094.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chi-Foon Chan sold 4,578 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $137.14, for a total value of $627,826.92. Following the completion of the transaction, the chief executive officer now owns 199,539 shares in the company, valued at approximately $27,364,778.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,589 shares of company stock valued at $3,158,514. 1.84% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of SNPS. First Trust Advisors LP grew its position in Synopsys by 1.3% in the first quarter. First Trust Advisors LP now owns 920,243 shares of the semiconductor company’s stock worth $105,966,000 after acquiring an additional 11,426 shares in the last quarter. Advisor Group Inc. boosted its position in Synopsys by 16.3% during the first quarter. Advisor Group Inc. now owns 13,345 shares of the semiconductor company’s stock valued at $1,537,000 after buying an additional 1,875 shares during the period. Envestnet Asset Management Inc. boosted its position in Synopsys by 10.1% during the first quarter. Envestnet Asset Management Inc. now owns 86,770 shares of the semiconductor company’s stock valued at $9,992,000 after buying an additional 7,955 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Synopsys by 300.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 993 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 745 shares during the period. Finally, MML Investors Services LLC boosted its position in Synopsys by 13.1% during the first quarter. MML Investors Services LLC now owns 6,579 shares of the semiconductor company’s stock valued at $758,000 after buying an additional 760 shares during the period. 89.28% of the stock is currently owned by institutional investors.
Shares of SNPS stock traded up $1.16 on Friday, reaching $139.38. 11,168 shares of the stock were exchanged, compared to its average volume of 1,019,772. The stock has a market cap of $20.13 billion, a PE ratio of 49.35, a P/E/G ratio of 3.54 and a beta of 1.21. Synopsys has a one year low of $79.14 and a one year high of $146.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.90. The stock has a 50 day moving average price of $137.76 and a 200 day moving average price of $127.69.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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