Synopsys, Inc. (NASDAQ:SNPS) – Griffin Securities lowered their FY2020 EPS estimates for Synopsys in a report issued on Wednesday. Griffin Securities analyst J. Vleeschhouwer now expects that the semiconductor company will post earnings per share of $3.18 for the year, down from their prior estimate of $3.19.
Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.57 by $0.12. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The business had revenue of $696.60 million for the quarter, compared to the consensus estimate of $650.72 million. During the same period last year, the company earned $0.77 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year.
Several other equities research analysts also recently commented on SNPS. BidaskClub downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. DA Davidson reiterated a “buy” rating and set a $105.00 target price (up from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Needham & Company LLC lifted their target price on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. TheStreet downgraded shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Finally, KeyCorp reiterated an “overweight” rating and set a $106.00 target price (up from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $96.89.
Synopsys (NASDAQ SNPS) traded up $0.14 during trading hours on Monday, reaching $89.07. 1,184,400 shares of the company traded hands, compared to its average volume of 996,263. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04. Synopsys has a twelve month low of $68.79 and a twelve month high of $94.80. The firm has a market cap of $13,245.93, a P/E ratio of 104.79, a PEG ratio of 3.97 and a beta of 1.04.
A number of institutional investors have recently added to or reduced their stakes in SNPS. BlackRock Inc. increased its stake in shares of Synopsys by 5.5% in the 4th quarter. BlackRock Inc. now owns 12,640,021 shares of the semiconductor company’s stock valued at $1,077,434,000 after acquiring an additional 658,966 shares in the last quarter. Alkeon Capital Management LLC increased its stake in shares of Synopsys by 0.4% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,460,259 shares of the semiconductor company’s stock valued at $198,125,000 after acquiring an additional 10,000 shares in the last quarter. Swedbank increased its stake in shares of Synopsys by 7.6% in the 4th quarter. Swedbank now owns 2,433,192 shares of the semiconductor company’s stock valued at $207,406,000 after acquiring an additional 171,085 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Synopsys by 79.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,117,337 shares of the semiconductor company’s stock valued at $170,509,000 after acquiring an additional 940,616 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Synopsys by 6.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,902,891 shares of the semiconductor company’s stock valued at $153,240,000 after acquiring an additional 107,627 shares in the last quarter. Hedge funds and other institutional investors own 88.58% of the company’s stock.
In other Synopsys news, Director Chrysostomos L. Nikias sold 21,074 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $89.78, for a total transaction of $1,892,023.72. 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 firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $90.12, for a total transaction of $409,595.40. Following the transaction, the director now 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. In the last 90 days, insiders have sold 65,442 shares of company stock valued at $5,779,693. Company insiders own 1.82% of the company’s stock.
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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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