Synopsys (NASDAQ:SNPS) Updates FY20 Earnings Guidance

Synopsys (NASDAQ:SNPS) updated its FY20 earnings guidance on Wednesday. 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 FY 2020
After-Hours guidance to 5.18-5.25 EPS.

SNPS traded down $3.71 during trading on Thursday, hitting $132.30. 56,679 shares of the company’s stock were exchanged, compared to its average volume of 1,078,809. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $137.45 and its two-hundred day moving average is $133.09. Synopsys has a fifty-two week low of $79.14 and a fifty-two week high of $146.66. The stock has a market cap of $21.20 billion, a P/E ratio of 47.11, a PEG ratio of 3.46 and a beta of 1.20.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, December 4th. The semiconductor company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $847.34 million. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, sell-side analysts forecast that Synopsys will post 3.15 earnings per share for the current year.

Several analysts have recently commented on the company. KeyCorp reissued a buy rating and issued a $155.00 price objective (up from $153.00) on shares of Synopsys in a research note on Thursday. BidaskClub cut Synopsys from a buy rating to a hold rating in a research note on Saturday, October 19th. Credit Suisse Group reaffirmed a positive rating and set a $150.00 price objective (up from $125.00) on shares of Synopsys in a report on Thursday, August 22nd. Wells Fargo & Co reiterated an outperform rating and issued a $160.00 target price (up previously from $150.00) on shares of Synopsys in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Synopsys from $138.00 to $157.00 and gave the company a neutral rating in a research report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Synopsys presently has a consensus rating of Buy and a consensus target price of $151.00.

About Synopsys

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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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