Equities research analysts expect Synopsys, Inc. (NASDAQ:SNPS) to announce sales of $1.02 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Synopsys’ earnings, with estimates ranging from $1.01 billion to $1.03 billion. Synopsys posted sales of $851.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.8%. The company is expected to announce its next earnings report on Wednesday, December 2nd.
According to Zacks, analysts expect that Synopsys will report full-year sales of $3.68 billion for the current financial year, with estimates ranging from $3.67 billion to $3.69 billion. For the next financial year, analysts anticipate that the company will report sales of $3.99 billion, with estimates ranging from $3.95 billion to $4.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Synopsys.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 19th. The semiconductor company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.40. Synopsys had a net margin of 17.88% and a return on equity of 14.66%. The firm had revenue of $964.10 million during the quarter, compared to the consensus estimate of $894.23 million. During the same quarter in the previous year, the company posted $1.18 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis.
Shares of NASDAQ SNPS traded down $4.09 on Friday, reaching $206.86. 702,647 shares of the company traded hands, compared to its average volume of 1,102,473. Synopsys has a fifty-two week low of $104.90 and a fifty-two week high of $230.12. The company has a 50 day moving average of $205.47 and a 200 day moving average of $172.78. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $32.01 billion, a PE ratio of 51.19, a P/E/G ratio of 3.11 and a beta of 1.15.
Synopsys declared that its board has initiated a stock buyback program on Friday, June 19th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Synopsys news, CEO Chi-Foon Chan sold 198,961 shares of Synopsys stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $211.79, for a total value of $42,137,950.19. Also, insider John F. Runkel, Jr. sold 9,629 shares of Synopsys stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $212.03, for a total value of $2,041,636.87. Following the completion of the sale, the insider now directly owns 27,135 shares in the company, valued at approximately $5,753,434.05. The disclosure for this sale can be found here. Insiders sold a total of 301,727 shares of company stock worth $63,512,097 over the last 90 days. 1.87% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Synopsys by 1.1% during the first quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock worth $29,613,000 after acquiring an additional 2,914 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Synopsys by 2.2% during the first quarter. Public Employees Retirement Association of Colorado now owns 21,587 shares of the semiconductor company’s stock worth $2,780,000 after buying an additional 463 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Synopsys by 0.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 23,320 shares of the semiconductor company’s stock worth $3,003,000 after buying an additional 215 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of Synopsys during the first quarter worth $29,000. Finally, Wetherby Asset Management Inc. increased its holdings in Synopsys by 4.6% in the first quarter. Wetherby Asset Management Inc. now owns 1,594 shares of the semiconductor company’s stock valued at $205,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 88.30% 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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