Synopsys (NASDAQ:SNPS) Announces Earnings Results

Synopsys (NASDAQ:SNPS) posted its quarterly earnings results on Wednesday. The semiconductor company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.23, MarketWatch Earnings reports. Synopsys had a net margin of 13.96% and a return on equity of 11.53%. The firm had revenue of $861.33 million for the quarter, compared to the consensus estimate of $836.52 million. During the same quarter in the previous year, the company earned $1.16 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year.

Synopsys stock opened at $171.11 on Friday. The stock has a 50-day simple moving average of $149.46 and a 200 day simple moving average of $142.90. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.13. Synopsys has a 12-month low of $104.90 and a 12-month high of $171.47. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 54.88, a P/E/G ratio of 3.01 and a beta of 1.14.

SNPS has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Synopsys from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird lifted their price target on shares of Synopsys from $182.00 to $193.00 and gave the stock an “outperform” rating in a research note on Thursday. DA Davidson restated a “buy” rating and issued a $200.00 target price on shares of Synopsys in a research note on Thursday, February 20th. Wells Fargo & Co boosted their target price on shares of Synopsys from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, KeyCorp boosted their target price on shares of Synopsys from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $181.69.

In related news, CFO Trac Pham sold 5,000 shares of Synopsys stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $146.67, for a total value of $733,350.00. Following the completion of the transaction, the chief financial officer now directly owns 6,704 shares of the company’s stock, valued at $983,275.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Chizen sold 25,000 shares of Synopsys stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $153.63, for a total value of $3,840,750.00. Following the completion of the transaction, the director now directly owns 13,165 shares of the company’s stock, valued at $2,022,538.95. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $5,886,250 over the last ninety days. 1.84% of the stock is currently owned by company 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 for Synopsys (NASDAQ:SNPS)

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