Synopsys, Inc. (SNPS) Expected to Announce Earnings of $0.69 Per Share
Wall Street analysts predict that Synopsys, Inc. (NASDAQ:SNPS) will report earnings of $0.69 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Synopsys’ earnings. Synopsys reported earnings per share of $0.61 in the same quarter last year, which suggests a positive year over year growth rate of 13.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 16th.
According to Zacks, analysts expect that Synopsys will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.84 to $1.87. For the next fiscal year, analysts forecast that the business will report earnings of $2.39 per share, with EPS estimates ranging from $2.28 to $2.57. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Synopsys.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The company had revenue of $680.07 million during the quarter, compared to analyst estimates of $672.40 million. During the same period last year, the business earned $0.81 earnings per share. Synopsys’s revenue was up 12.4% compared to the same quarter last year.
A number of research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $76.00 price target on shares of Synopsys in a report on Monday, April 17th. Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Bank of America Corporation restated a “buy” rating and set a $87.00 price target (up previously from $80.00) on shares of Synopsys in a report on Friday, May 19th. Finally, DA Davidson restated a “buy” rating and set a $85.00 price target (up previously from $77.00) on shares of Synopsys in a report on Friday, May 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Synopsys currently has an average rating of “Buy” and a consensus target price of $75.78.
In other news, CEO Chi-Foon Chan sold 3,750 shares of the company’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 transaction, the chief executive officer now directly owns 204,179 shares of the company’s stock, valued at $14,488,541.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Schwarz sold 21,496 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $71.20, for a total transaction of $1,530,515.20. Following the completion of the transaction, the director now directly owns 19,324 shares in the company, valued at $1,375,868.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,246 shares of company stock worth $21,608,505. Company insiders own 1.82% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Capital Impact Advisors LLC purchased a new stake in Synopsys during the first quarter worth about $1,244,000. Gateway Investment Advisers LLC bought a new stake in Synopsys during the first quarter valued at $787,000. National Pension Service boosted its stake in Synopsys by 46,912.5% in the first quarter. National Pension Service now owns 153,731 shares of the semiconductor company’s stock valued at $11,101,000 after buying an additional 153,404 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Synopsys by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 45,937 shares of the semiconductor company’s stock valued at $3,313,000 after buying an additional 200 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX bought a new stake in Synopsys during the first quarter valued at $2,411,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.
Synopsys (NASDAQ:SNPS) opened at 75.89 on Friday. The stock has a 50 day moving average of $74.51 and a 200-day moving average of $70.65. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 42.40 and a beta of 1.01. Synopsys has a 52-week low of $53.53 and a 52-week high of $76.57.
Synopsys announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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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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