Equities analysts forecast that Synopsys, Inc. (NASDAQ:SNPS) will announce $1.00 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Synopsys’ earnings, with the highest EPS estimate coming in at $1.01 and the lowest estimate coming in at $0.98. Synopsys reported earnings per share of $0.94 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Synopsys will report full-year earnings of $3.51 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.53. For the next fiscal year, analysts anticipate that the business will report earnings of $3.95 per share, with EPS estimates ranging from $3.76 to $4.08. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow Synopsys.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The firm had revenue of $696.60 million during the quarter, compared to analysts’ expectations of $650.72 million. During the same period in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on SNPS shares. Royal Bank of Canada raised Synopsys from an “outperform” rating to a “top pick” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Wednesday, October 25th. DA Davidson reissued a “buy” rating and issued a $105.00 target price (up previously from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. Needham & Company LLC boosted their target price on Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. KeyCorp reissued an “overweight” rating and issued a $106.00 target price (up previously from $86.00) on shares of Synopsys in a research note on Thursday, November 30th. Finally, TheStreet lowered Synopsys from an “a” rating to a “c+” rating in a research note on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $96.89.
In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $90.33, for a total transaction of $451,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Walske sold 4,545 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total value of $409,595.40. Following the transaction, the director now directly owns 14,988 shares of the company’s stock, valued at approximately $1,350,718.56. The disclosure for this sale can be found here. Insiders have sold a total of 65,442 shares of company stock valued at $5,779,693 in the last ninety days. 1.82% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNPS. Cerebellum GP LLC bought a new position in Synopsys during the 4th quarter valued at approximately $124,000. Advisor Group Inc. raised its position in shares of Synopsys by 14.3% in the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after acquiring an additional 327 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Synopsys in the 2nd quarter worth approximately $200,000. IBM Retirement Fund bought a new position in shares of Synopsys in the 4th quarter worth approximately $201,000. Finally, Conning Inc. bought a new position in shares of Synopsys in the 4th quarter worth approximately $205,000. 89.77% of the stock is owned by institutional investors and hedge funds.
Synopsys (SNPS) traded up $1.72 during midday trading on Wednesday, hitting $84.34. The stock had a trading volume of 1,718,700 shares, compared to its average volume of 985,687. Synopsys has a 12 month low of $65.31 and a 12 month high of $94.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $12,542.51, a price-to-earnings ratio of 100.48, a PEG ratio of 3.76 and a beta of 1.04.
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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