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.
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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