Synopsys, Inc. (SNPS) Expected to Post Earnings of $0.57 Per Share
Analysts expect Synopsys, Inc. (NASDAQ:SNPS) to announce $0.57 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Synopsys’ earnings, with estimates ranging from $0.55 to $0.59. Synopsys posted earnings of $0.77 per share in the same quarter last year, which suggests a negative year over year growth rate of 26%. The company is scheduled to report its next earnings report on Wednesday, November 29th.
On average, analysts expect that Synopsys will report full year earnings of $3.31 per share for the current year, with EPS estimates ranging from $3.30 to $3.32. For the next fiscal year, analysts anticipate that the company will report earnings of $3.59 per share, with EPS estimates ranging from $3.53 to $3.70. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Synopsys.
Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year.
SNPS has been the topic of a number of recent analyst reports. BidaskClub cut Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Credit Suisse Group restated an “outperform” rating on shares of Synopsys in a research report on Thursday, August 31st. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, August 21st. HSBC Holdings plc restated an “average” rating on shares of Synopsys in a research report on Thursday, September 14th. Finally, Royal Bank Of Canada raised their price target on Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $84.00.
Synopsys (NASDAQ SNPS) traded down 0.05% during midday trading on Monday, hitting $84.28. 507,621 shares of the stock traded hands. The firm’s 50 day moving average is $81.28 and its 200-day moving average is $76.39. Synopsys has a 12-month low of $56.03 and a 12-month high of $85.00. The stock has a market capitalization of $12.66 billion, a PE ratio of 39.57 and a beta of 1.00.
In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the transaction, the chief executive officer now owns 200,429 shares in the company, valued at $15,533,247.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.99, for a total value of $384,950.00. Following the completion of the transaction, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. Insiders own 1.82% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SNPS. Bronfman E.L. Rothschild L.P. grew its position in Synopsys by 11.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 147 shares during the last quarter. IFP Advisors Inc grew its position in Synopsys by 40.4% in the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 415 shares during the last quarter. YorkBridge Wealth Partners LLC grew its position in Synopsys by 3.7% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 55 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Synopsys by 101.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,216 shares of the semiconductor company’s stock valued at $160,000 after acquiring an additional 1,116 shares during the last quarter. Finally, Advisor Group Inc. grew its position in Synopsys by 14.3% in the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after acquiring an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 88.83% of the company’s stock.
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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