Synopsys (NASDAQ:SNPS) Releases Q3 Earnings Guidance

Synopsys (NASDAQ:SNPS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.33-1.38 for the period, compared to the Thomson Reuters consensus estimate of $1.47. The company issued revenue guidance of $875-905 million, compared to the consensus revenue estimate of $945.61 million.Synopsys also updated its FY 2020
After-Hours guidance to 5.21-5.28 EPS.

Shares of SNPS stock traded up $2.15 during midday trading on Wednesday, hitting $162.02. 1,075,500 shares of the company were exchanged, compared to its average volume of 1,279,060. The firm has a market capitalization of $24.07 billion, a P/E ratio of 51.76, a PEG ratio of 2.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.95. The firm’s 50 day moving average price is $148.01 and its two-hundred day moving average price is $142.61. Synopsys has a 52 week low of $104.90 and a 52 week high of $167.20.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.23. Synopsys had a net margin of 14.31% and a return on equity of 12.00%. The business had revenue of $861.33 million during the quarter, compared to analysts’ expectations of $836.52 million. During the same quarter in the previous year, the company earned $1.16 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Analysts expect that Synopsys will post 3.79 EPS for the current year.

Several brokerages have weighed in on SNPS. Zacks Investment Research cut shares of Synopsys from a buy rating to a hold rating and set a $134.00 price objective for the company. in a research note on Friday, March 27th. Credit Suisse Group lifted their price objective on shares of Synopsys from $150.00 to $180.00 and gave the stock a positive rating in a research note on Thursday, February 20th. Robert W. Baird began coverage on shares of Synopsys in a research note on Tuesday, February 18th. They issued an outperform rating and a $190.00 price objective for the company. Atlantic Securities began coverage on shares of Synopsys in a research note on Tuesday, February 18th. They issued an overweight rating and a $200.00 price objective for the company. Finally, Cfra dropped their target price on shares of Synopsys from $163.00 to $160.00 and set a buy rating for the company in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $175.17.

In related news, Director Bruce R. Chizen sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $153.63, for a total transaction of $3,840,750.00. Following the completion of the transaction, the director now directly owns 13,165 shares in the company, valued at approximately $2,022,538.95. 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 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $127.43, for a total transaction of $637,150.00. Following the transaction, the general counsel now owns 23,736 shares of the company’s stock, valued at $3,024,678.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,624 shares of company stock valued at $44,048,820. 1.87% of the stock is owned by corporate insiders.

About Synopsys

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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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