Brokerages forecast that Synopsys, Inc. (NASDAQ:SNPS) will post sales of $690.41 million for the current quarter, Zacks reports. Four analysts have provided estimates for Synopsys’ earnings. The highest sales estimate is $693.50 million and the lowest is $685.30 million. Synopsys posted sales of $615.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The firm is scheduled to issue its next earnings report on Wednesday, August 16th.

On average, analysts expect that Synopsys will report full-year sales of $690.41 million for the current financial year, with estimates ranging from $2.66 billion to $2.67 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.79 billion per share, with estimates ranging from $2.77 billion to $2.80 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Synopsys.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $672.40 million. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s revenue was up 12.4% on a year-over-year basis.

SNPS has been the topic of several recent analyst reports. Zacks Investment Research downgraded Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Needham & Company LLC restated a “buy” rating and issued a $76.00 price target on shares of Synopsys in a research note on Monday, April 17th. Pacific Crest restated an “overweight” rating and issued a $86.00 price target (up from $78.00) on shares of Synopsys in a research note on Friday, May 19th. DA Davidson restated a “buy” rating and issued a $85.00 price target (up from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, BidaskClub downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $75.78.

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In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction on Friday, May 19th. The stock was sold at an average price of $71.00, for a total transaction of $710,000.00. Following the transaction, the general counsel now directly owns 18,239 shares in the company, valued at $1,294,969. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction on Friday, May 19th. The shares were sold at an average price of $71.05, for a total value of $355,250.00. Following the transaction, the executive vice president now owns 68,793 shares in the company, valued at $4,887,742.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,246 shares of company stock worth $21,608,505. Company insiders own 1.82% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SNPS. Credit Suisse AG increased its position in Synopsys by 14.4% in the first quarter. Credit Suisse AG now owns 399,430 shares of the semiconductor company’s stock valued at $28,810,000 after buying an additional 50,214 shares during the period. Origin Asset Management LLP increased its position in Synopsys by 6.1% in the first quarter. Origin Asset Management LLP now owns 300,383 shares of the semiconductor company’s stock valued at $21,667,000 after buying an additional 17,183 shares during the period. ING Groep NV bought a new position in Synopsys during the first quarter valued at $555,000. Mn Services Vermogensbeheer B.V. increased its position in Synopsys by 4.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,036 shares of the semiconductor company’s stock valued at $272,000 after buying an additional 172 shares during the period. Finally, Morgan Stanley increased its position in Synopsys by 155.6% in the first quarter. Morgan Stanley now owns 1,081,104 shares of the semiconductor company’s stock valued at $77,979,000 after buying an additional 658,199 shares during the period. Institutional investors own 91.41% of the company’s stock.

Synopsys (SNPS) traded up 0.12% during trading on Friday, reaching $75.91. The company’s stock had a trading volume of 453,358 shares. The company’s 50-day moving average is $74.51 and its 200-day moving average is $70.65. Synopsys has a 12 month low of $53.53 and a 12 month high of $76.57. The stock has a market cap of $11.41 billion, a PE ratio of 42.41 and a beta of 1.01.

Synopsys declared that its board has initiated a share buyback program on Friday, June 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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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