Synopsys (NASDAQ:SNPS) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 22nd. Analysts expect Synopsys to post earnings of $0.73 per share for the quarter.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.51. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. The firm had revenue of $820.40 million during the quarter, compared to the consensus estimate of $796.30 million. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts expect Synopsys to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NASDAQ SNPS opened at $117.74 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.82. Synopsys has a 1-year low of $79.14 and a 1-year high of $122.36. The firm has a market cap of $17.56 billion, a P/E ratio of 41.75, a P/E/G ratio of 3.80 and a beta of 1.30.
Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a report on Thursday, April 11th. Wells Fargo & Co assumed coverage on Synopsys in a report on Tuesday. They set an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Synopsys in a report on Wednesday, April 3rd. DA Davidson increased their price target on Synopsys to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, KeyCorp started coverage on Synopsys in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $119.56.
In other Synopsys news, VP Sudhindra Kankanwadi sold 2,085 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $102.71, for a total value of $214,150.35. Following the completion of the transaction, the vice president now owns 10,387 shares in the company, valued at $1,066,848.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $101.71, for a total value of $1,017,100.00. Following the completion of the transaction, the general counsel now owns 21,071 shares of the company’s stock, valued at approximately $2,143,131.41. The disclosure for this sale can be found here. Insiders sold 142,190 shares of company stock valued at $14,729,218 in the last quarter. 1.84% of the stock is currently owned by company insiders.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.
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