Zacks: Brokerages Expect Synopsys, Inc. (SNPS) Will Post Earnings of $1.00 Per Share

Wall Street analysts predict that Synopsys, Inc. (NASDAQ:SNPS) will announce earnings per share of $1.00 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Synopsys’ earnings. The highest EPS estimate is $1.01 and the lowest is $0.98. Synopsys posted earnings per share of $0.94 in the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The firm is expected to report its next earnings results on Wednesday, February 21st.

On average, analysts expect that Synopsys will report full year earnings of $3.51 per share for the current financial year, with EPS estimates ranging from $3.49 to $3.53. For the next fiscal year, analysts expect that the firm will post earnings of $3.95 per share, with EPS estimates ranging from $3.76 to $4.08. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Synopsys.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The company had revenue of $696.60 million during the quarter, compared to the consensus estimate of $650.72 million. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS.

Several equities analysts recently commented on SNPS shares. JPMorgan Chase & Co. downgraded Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 target price for the company. in a research report on Tuesday, December 12th. Royal Bank of Canada upgraded Synopsys from an “outperform” rating to a “top pick” rating and raised their target price for the stock from $90.00 to $100.00 in a research report on Wednesday, October 25th. BidaskClub downgraded Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research downgraded Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, December 4th. Finally, Needham & Company LLC raised their target price on Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Synopsys has a consensus rating of “Hold” and an average target price of $96.89.

Synopsys (NASDAQ:SNPS) traded down $1.60 during trading on Wednesday, hitting $85.85. The company had a trading volume of 1,427,755 shares, compared to its average volume of 931,394. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $13,030.29, a P/E ratio of 101.00, a PEG ratio of 3.91 and a beta of 1.04. Synopsys has a 1-year low of $64.75 and a 1-year high of $94.80.

In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction on Friday, December 1st. The stock was sold at an average price of $90.33, for a total value of $451,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction on Friday, December 1st. The shares were sold at an average price of $89.78, for a total value of $336,675.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,442 shares of company stock valued at $5,779,693. Corporate insiders own 1.82% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alkeon Capital Management LLC increased its stake in shares of Synopsys by 0.4% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,460,259 shares of the semiconductor company’s stock valued at $198,125,000 after buying an additional 10,000 shares during the period. Swedbank increased its stake in shares of Synopsys by 8.6% in the 3rd quarter. Swedbank now owns 2,262,107 shares of the semiconductor company’s stock valued at $182,167,000 after buying an additional 179,528 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Synopsys by 79.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,117,337 shares of the semiconductor company’s stock valued at $170,509,000 after buying an additional 940,616 shares during the period. Macquarie Group Ltd. increased its stake in shares of Synopsys by 6.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,902,891 shares of the semiconductor company’s stock valued at $153,240,000 after buying an additional 107,627 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Synopsys by 1.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,362,394 shares of the semiconductor company’s stock valued at $116,130,000 after buying an additional 18,545 shares during the period. 90.02% of the stock is owned by institutional investors.

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Synopsys Company Profile

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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