Wall Street analysts expect Synopsys, Inc. (NASDAQ:SNPS) to report sales of $829.52 million for the current quarter, according to Zacks. Five analysts have issued estimates for Synopsys’ earnings, with estimates ranging from $827.78 million to $831.30 million. Synopsys posted sales of $779.71 million during the same quarter last year, which suggests a positive year over year growth rate of 6.4%. The company is expected to announce its next earnings report on Wednesday, August 28th.
On average, analysts expect that Synopsys will report full year sales of $3.33 billion for the current fiscal year, with estimates ranging from $3.32 billion to $3.34 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.57 billion, with estimates ranging from $3.55 billion to $3.60 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Synopsys.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The business had revenue of $836.20 million during the quarter, compared to analysts’ expectations of $829.41 million. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis.
SNPS has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on shares of Synopsys to $125.00 and gave the company a “positive” rating in a research report on Thursday, February 21st. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Monday, February 25th. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective (up previously from $115.00) on shares of Synopsys in a research report on Thursday, March 28th. Finally, KeyCorp initiated coverage on shares of Synopsys in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Synopsys has a consensus rating of “Buy” and an average price target of $124.00.
In other Synopsys news, VP Sudhindra Kankanwadi sold 2,500 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $126.20, for a total transaction of $315,500.00. Following the completion of the transaction, the vice president now owns 10,916 shares in the company, valued at approximately $1,377,599.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $117.36, for a total value of $1,173,600.00. Following the transaction, the general counsel now owns 26,331 shares of the company’s stock, valued at approximately $3,090,206.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,888 shares of company stock valued at $22,602,994. Corporate insiders own 1.84% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Securian Asset Management Inc increased its holdings in Synopsys by 0.6% during the 1st quarter. Securian Asset Management Inc now owns 15,405 shares of the semiconductor company’s stock worth $1,774,000 after purchasing an additional 97 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Synopsys by 0.3% during the 1st quarter. State of Alaska Department of Revenue now owns 37,607 shares of the semiconductor company’s stock worth $4,327,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Synopsys by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $910,000 after buying an additional 100 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Synopsys by 78.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Finally, HL Financial Services LLC boosted its stake in shares of Synopsys by 1.3% during the 4th quarter. HL Financial Services LLC now owns 7,905 shares of the semiconductor company’s stock worth $666,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.
SNPS opened at $126.74 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.85. Synopsys has a 12 month low of $79.14 and a 12 month high of $127.91. The firm has a market capitalization of $19.00 billion, a P/E ratio of 44.94, a PEG ratio of 3.72 and a beta of 1.26.
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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