Equities analysts expect Synopsys (NASDAQ:SNPS) to announce sales of $774.77 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Synopsys’ earnings, with the lowest sales estimate coming in at $767.50 million and the highest estimate coming in at $779.00 million. Synopsys reported sales of $680.07 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.9%. The business is scheduled to issue its next earnings report on Wednesday, May 16th.
On average, analysts expect that Synopsys will report full year sales of $774.77 million for the current financial year, with estimates ranging from $2.94 billion to $2.96 billion. For the next year, analysts anticipate that the company will post sales of $3.12 billion per share, with estimates ranging from $3.10 billion to $3.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Synopsys.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10. Synopsys had a return on equity of 6.72% and a net margin of 1.63%. The company had revenue of $769.40 million during the quarter, compared to analyst estimates of $750.43 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Synopsys’s revenue was up 17.9% on a year-over-year basis.
Several analysts have issued reports on SNPS shares. JPMorgan Chase lowered Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 target price for the company. in a research note on Tuesday, December 12th. BidaskClub lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. KeyCorp reaffirmed an “overweight” rating and issued a $110.00 target price (up previously from $106.00) on shares of Synopsys in a research note on Thursday, February 22nd. Zacks Investment Research lowered Synopsys from a “hold” rating to a “strong sell” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Synopsys in a research note on Friday, February 23rd. 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. The stock has a consensus rating of “Hold” and an average price target of $97.33.
SNPS traded down $1.57 during midday trading on Friday, hitting $81.39. The stock had a trading volume of 1,206,955 shares, compared to its average volume of 842,684. The firm has a market cap of $12,104.73, a P/E ratio of 92.49, a P/E/G ratio of 5.24 and a beta of 1.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68. Synopsys has a 1 year low of $70.55 and a 1 year high of $94.80.
In other news, EVP Joseph W. Logan sold 10,313 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $84.69, for a total transaction of $873,407.97. Following the completion of the sale, the executive vice president now owns 78,584 shares of the company’s stock, valued at $6,655,278.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $87.00, for a total value of $870,000.00. Following the sale, the general counsel now directly owns 23,052 shares of the company’s stock, valued at approximately $2,005,524. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,245 shares of company stock valued at $2,529,005. Insiders own 1.84% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of Synopsys by 426.3% during the fourth quarter. First Trust Advisors LP now owns 1,038,634 shares of the semiconductor company’s stock valued at $88,533,000 after acquiring an additional 841,300 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Synopsys by 5.5% during the fourth 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. Arrowstreet Capital Limited Partnership raised its holdings in shares of Synopsys by 37.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,853,499 shares of the semiconductor company’s stock valued at $157,992,000 after acquiring an additional 505,334 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Synopsys during the fourth quarter valued at approximately $27,325,000. Finally, Carillon Tower Advisers Inc. bought a new position in shares of Synopsys during the fourth quarter valued at approximately $26,785,000. 90.54% of the stock is owned by hedge funds and other institutional investors.
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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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