Synopsys (NASDAQ:SNPS) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.18-5.25 for the period, compared to the Thomson Reuters consensus estimate of $5.07. The company issued revenue guidance of $3.6-3.65 billion, compared to the consensus revenue estimate of $3.62 billion.Synopsys also updated its Q1 2020
After-Hours guidance to 0.89-0.94 EPS.
Shares of NASDAQ:SNPS traded up $0.80 during mid-day trading on Wednesday, reaching $136.01. The stock had a trading volume of 1,019,312 shares, compared to its average volume of 1,078,809. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $21.20 billion, a P/E ratio of 48.23, a price-to-earnings-growth ratio of 3.46 and a beta of 1.20. Synopsys has a 1 year low of $79.14 and a 1 year high of $146.66. The business’s 50 day moving average price is $137.49 and its 200 day moving average price is $133.03.
SNPS has been the topic of a number of research analyst reports. Wells Fargo & Co reiterated an outperform rating and issued a $160.00 target price (up from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. Bank of America started coverage on Synopsys in a research report on Monday, September 23rd. They issued a buy rating and a $171.00 target price on the stock. BidaskClub cut Synopsys from a buy rating to a hold rating in a research note on Saturday, October 19th. Needham & Company LLC set a $145.00 price objective on Synopsys and gave the stock a buy rating in a research note on Monday, September 30th. Finally, DA Davidson boosted their price objective on Synopsys to $155.00 and gave the stock a positive rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $148.30.
In other Synopsys news, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the sale, the vice president now directly owns 8,663 shares of the company’s stock, valued at $1,250,070.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.84% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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