Synopsys (NASDAQ:SNPS) Releases FY20 Earnings Guidance

Synopsys (NASDAQ:SNPS) issued an update on its FY20 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 $5.22. 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.

Shares of Synopsys stock traded up $2.07 during midday trading on Wednesday, reaching $164.99. The company had a trading volume of 1,757,832 shares, compared to its average volume of 914,002. The stock has a fifty day moving average price of $151.50 and a 200 day moving average price of $140.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.91. The firm has a market cap of $24.59 billion, a PE ratio of 47.55, a P/E/G ratio of 3.40 and a beta of 1.18. Synopsys has a fifty-two week low of $98.64 and a fifty-two week high of $166.87.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.09. The company had revenue of $834.38 million for the quarter, compared to analyst estimates of $821.55 million. Synopsys had a return on equity of 13.54% and a net margin of 15.84%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. As a group, sell-side analysts forecast that Synopsys will post 3.76 EPS for the current year.

A number of equities analysts recently commented on SNPS shares. DA Davidson reaffirmed a buy rating and issued a $175.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a buy rating and issued a $150.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Atlantic Securities started coverage on Synopsys in a research note on Tuesday. They issued an overweight rating and a $200.00 price objective on the stock. KeyCorp lifted their price objective on Synopsys from $155.00 to $160.00 and gave the stock an overweight rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada reissued a top pick rating and issued a $178.00 price target on shares of Synopsys in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Synopsys has a consensus rating of Buy and an average target price of $168.73.

In other Synopsys news, CFO Trac Pham sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $139.52, for a total value of $1,395,200.00. Following the transaction, the chief financial officer now directly owns 11,641 shares of the company’s stock, valued at $1,624,152.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.84% of the stock is currently owned by insiders.

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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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