Synopsys, Inc. (NASDAQ:SNPS) – Research analysts at Griffin Securities reduced their FY2021 EPS estimates for Synopsys in a research note issued to investors on Monday, January 11th. Griffin Securities analyst J. Vleeschhouwer now expects that the semiconductor company will post earnings of $4.37 per share for the year, down from their prior estimate of $4.38. Griffin Securities also issued estimates for Synopsys’ Q4 2021 earnings at $1.18 EPS, Q2 2022 earnings at $1.08 EPS, FY2022 earnings at $4.67 EPS and FY2023 earnings at $5.46 EPS.
A number of other equities analysts have also weighed in on SNPS. Needham & Company LLC lifted their price target on shares of Synopsys from $215.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, December 3rd. DA Davidson lifted their price target on shares of Synopsys from $260.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, December 3rd. UBS Group lifted their price target on shares of Synopsys from $223.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Royal Bank of Canada lifted their price target on shares of Synopsys from $228.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, October 9th. Finally, KeyCorp lifted their target price on shares of Synopsys from $265.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, January 5th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Synopsys currently has a consensus rating of “Buy” and a consensus price target of $233.36.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Tuesday, December 1st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Synopsys had a return on equity of 14.66% and a net margin of 17.88%. Synopsys’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS.
Large investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Synopsys by 1.1% during the 1st quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock valued at $29,613,000 after acquiring an additional 2,914 shares during the last quarter. Stifel Financial Corp increased its stake in Synopsys by 131.5% during the 2nd quarter. Stifel Financial Corp now owns 18,528 shares of the semiconductor company’s stock worth $3,612,000 after buying an additional 10,526 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in Synopsys during the 2nd quarter worth approximately $490,000. Point72 Hong Kong Ltd increased its stake in Synopsys by 42.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 798 shares of the semiconductor company’s stock worth $156,000 after buying an additional 236 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Synopsys by 15.7% during the 2nd quarter. Captrust Financial Advisors now owns 958 shares of the semiconductor company’s stock worth $189,000 after buying an additional 130 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Steven Walske sold 9,845 shares of the stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $248.03, for a total value of $2,441,855.35. Following the transaction, the director now owns 2,784 shares of the company’s stock, valued at $690,515.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Trac Pham sold 10,000 shares of the stock in a transaction on Monday, December 21st. The shares were sold at an average price of $254.00, for a total value of $2,540,000.00. Following the completion of the transaction, the chief financial officer now directly owns 28,174 shares in the company, valued at approximately $7,156,196. The disclosure for this sale can be found here. Insiders have sold 25,463 shares of company stock worth $6,413,503 in the last ninety days. Corporate insiders own 1.84% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform that 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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