Brokerages forecast that Synopsys, Inc. (NASDAQ:SNPS) will announce $690.41 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Synopsys’ earnings, with estimates ranging from $685.30 million to $693.50 million. Synopsys posted sales of $615.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.2%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 16th.

On average, analysts expect that Synopsys will report full-year sales of $690.41 million for the current fiscal year, with estimates ranging from $2.66 billion to $2.67 billion. For the next financial year, analysts forecast that the firm will post sales of $2.79 billion per share, with estimates ranging from $2.77 billion to $2.80 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Synopsys.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Synopsys had a return on equity of 11.16% and a net margin of 10.74%. The firm had revenue of $680.07 million for the quarter, compared to analysts’ expectations of $672.40 million. During the same period last year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.

SNPS has been the topic of several recent analyst reports. J P Morgan Chase & Co reiterated an “average” rating on shares of Synopsys in a research note on Friday, May 26th. Bank of America Corporation reiterated a “buy” rating and issued a $87.00 price target (up previously from $80.00) on shares of Synopsys in a research note on Friday, May 19th. DA Davidson reiterated a “buy” rating and issued a $85.00 price target (up previously from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Needham & Company LLC reiterated a “buy” rating and issued a $76.00 price target on shares of Synopsys in a research note on Monday, April 17th. Finally, Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Synopsys presently has a consensus rating of “Buy” and an average target price of $75.78.

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Synopsys (NASDAQ:SNPS) opened at 73.65 on Wednesday. Synopsys has a 52 week low of $50.97 and a 52 week high of $76.57. The company’s 50-day moving average price is $74.21 and its 200 day moving average price is $68.55. The company has a market capitalization of $11.07 billion, a PE ratio of 41.15 and a beta of 0.98.

In related news, Chairman Geus Aart De sold 264,000 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $71.01, for a total transaction of $18,746,640.00. Following the sale, the chairman now owns 220,133 shares of the company’s stock, valued at approximately $15,631,644.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $70.96, for a total value of $266,100.00. Following the sale, the chief executive officer now directly owns 204,179 shares in the company, valued at approximately $14,488,541.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,246 shares of company stock worth $21,608,505. 1.82% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Synopsys by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 634,276 shares of the semiconductor company’s stock valued at $37,339,000 after buying an additional 19,830 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $15,494,000. Envestnet Asset Management Inc. increased its position in shares of Synopsys by 12.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 29,107 shares of the semiconductor company’s stock valued at $1,714,000 after buying an additional 3,271 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Synopsys by 5.9% in the fourth quarter. GSA Capital Partners LLP now owns 17,961 shares of the semiconductor company’s stock valued at $1,057,000 after buying an additional 996 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Synopsys by 16.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,661 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 504 shares during the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

About Synopsys

Synopsys, 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.

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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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