$0.78 EPS Expected for Synopsys, Inc. (SNPS) This Quarter

Analysts expect Synopsys, Inc. (NASDAQ:SNPS) to report $0.78 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for Synopsys’ earnings, with the highest EPS estimate coming in at $0.79 and the lowest estimate coming in at $0.77. Synopsys reported earnings per share of $0.69 in the same quarter last year, which indicates a positive year over year growth rate of 13%. The company is scheduled to announce its next quarterly earnings results on Wednesday, December 5th.

On average, analysts expect that Synopsys will report full-year earnings of $3.91 per share for the current fiscal year, with EPS estimates ranging from $3.90 to $3.92. For the next fiscal year, analysts expect that the business will report earnings of $4.18 per share, with EPS estimates ranging from $4.00 to $4.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Synopsys.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The business had revenue of $779.70 million for the quarter, compared to analysts’ expectations of $773.61 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year.

A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Synopsys from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a report on Thursday, August 23rd. DA Davidson increased their price target on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. Finally, KeyCorp increased their price target on shares of Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Synopsys currently has an average rating of “Hold” and a consensus target price of $106.14.

In related news, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $101.85, for a total transaction of $367,576.65. Following the transaction, the chief executive officer now owns 202,135 shares of the company’s stock, valued at approximately $20,587,449.75. The transaction was disclosed in a legal 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 on Thursday, August 30th. The shares were sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the transaction, the general counsel now directly owns 22,322 shares in the company, valued at approximately $2,276,844. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,609 shares of company stock worth $3,416,177. 1.84% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Robecosam AG grew its holdings in shares of Synopsys by 22.4% during the 2nd quarter. Robecosam AG now owns 3,000 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 550 shares during the last quarter. Intrust Bank NA grew its holdings in shares of Synopsys by 11.9% during the 2nd quarter. Intrust Bank NA now owns 5,681 shares of the semiconductor company’s stock valued at $486,000 after purchasing an additional 606 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Synopsys by 1.2% during the 1st quarter. Stifel Financial Corp now owns 56,390 shares of the semiconductor company’s stock valued at $4,693,000 after purchasing an additional 661 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Synopsys by 3.0% during the 2nd quarter. CIBC Asset Management Inc now owns 23,635 shares of the semiconductor company’s stock valued at $2,022,000 after purchasing an additional 683 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Synopsys by 28.2% during the 2nd quarter. Raymond James Trust N.A. now owns 3,179 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 699 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SNPS traded up $2.37 during trading on Friday, reaching $88.12. The company had a trading volume of 1,544,035 shares, compared to its average volume of 1,060,921. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 100.14, a PEG ratio of 6.28 and a beta of 1.18. Synopsys has a 12 month low of $80.13 and a 12 month high of $103.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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