Synopsys (NASDAQ:SNPS) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.10, Bloomberg Earnings reports. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The company had revenue of $769.40 million during the quarter, compared to analysts’ expectations of $750.43 million. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Synopsys updated its Q2 guidance to $1.06-1.10 EPS and its FY18 guidance to $3.67-3.74 EPS.
Shares of Synopsys (NASDAQ SNPS) traded down $1.30 on Wednesday, hitting $88.46. 1,472,954 shares of the stock were exchanged, compared to its average volume of 1,028,079. Synopsys has a fifty-two week low of $69.42 and a fifty-two week high of $94.80. The firm has a market cap of $13,380.00, a price-to-earnings ratio of 102.86, a price-to-earnings-growth ratio of 3.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.04.
Several equities analysts have commented on SNPS shares. Royal Bank of Canada raised shares of Synopsys from an “outperform” rating to a “top pick” rating and raised their price target for the company from $90.00 to $100.00 in a research report on Wednesday, October 25th. DA Davidson reissued a “buy” rating and issued a $105.00 price target (up previously from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Needham & Company LLC raised their price target on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. KeyCorp reissued an “overweight” rating and issued a $106.00 price target (up previously from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Finally, TheStreet cut shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $96.89.
In other news, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $89.78, for a total value of $336,675.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chrysostomos L. Nikias sold 21,074 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 65,442 shares of company stock worth $5,779,693 over the last 90 days. Company insiders own 1.82% of the company’s stock.
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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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