News headlines about Synopsys (NASDAQ:SNPS) have trended somewhat positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Synopsys earned a coverage optimism score of 0.17 on Accern’s scale. Accern also gave media stories about the semiconductor company an impact score of 45.6493076275501 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media stories that may have effected Accern’s scoring:
A number of brokerages have recently commented on SNPS. BidaskClub cut shares of Synopsys from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. KeyCorp restated an “overweight” rating and set a $110.00 price objective (up from $106.00) on shares of Synopsys in a research report on Thursday, February 22nd. ValuEngine upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Synopsys in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $97.33.
Synopsys stock traded down $0.66 during midday trading on Friday, hitting $83.82. 724,150 shares of the stock were exchanged, compared to its average volume of 901,066. Synopsys has a fifty-two week low of $70.55 and a fifty-two week high of $94.80. The stock has a market cap of $12,564.30, a P/E ratio of 95.25, a PEG ratio of 5.44 and a beta of 1.09. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The company had revenue of $769.40 million during the quarter, compared to analyst estimates of $750.43 million. Synopsys had a net margin of 1.63% and a return on equity of 6.72%. Synopsys’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. analysts forecast that Synopsys will post 1.55 EPS for the current year.
Synopsys declared that its Board of Directors has authorized a stock buyback program on Thursday, April 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Synopsys news, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $84.77, for a total transaction of $305,934.93. Following the completion of the transaction, the chief executive officer now owns 209,244 shares of the company’s stock, valued at $17,737,613.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph W. Logan sold 10,313 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $84.69, for a total transaction of $873,407.97. Following the transaction, the executive vice president now directly owns 78,584 shares of the company’s stock, valued at approximately $6,655,278.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,245 shares of company stock valued at $2,529,005. 1.84% of the stock is currently owned by insiders.
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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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