Wall Street analysts expect Synopsys, Inc. (NASDAQ:SNPS) to report $751.36 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Synopsys’ earnings. The lowest sales estimate is $743.00 million and the highest is $757.90 million. Synopsys posted sales of $652.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.1%. The firm is expected to report its next earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that Synopsys will report full year sales of $751.36 million for the current year, with estimates ranging from $2.90 billion to $2.91 billion. For the next year, analysts forecast that the firm will report sales of $3.08 billion per share, with estimates ranging from $3.05 billion to $3.11 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Synopsys.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. The firm had revenue of $696.60 million during the quarter, compared to analyst estimates of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Needham & Company LLC raised their price objective on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. TheStreet lowered shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Finally, J P Morgan Chase & Co restated an “underweight” rating on shares of Synopsys in a research report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $96.89.
Synopsys (SNPS) traded down $1.27 during mid-day trading on Thursday, hitting $87.10. 749,900 shares of the stock were exchanged, compared to its average volume of 1,089,662. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.04. Synopsys has a one year low of $58.74 and a one year high of $94.80. The company has a market capitalization of $13,141.83, a price-to-earnings ratio of 72.43, a P/E/G ratio of 4.32 and a beta of 1.01.
In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $88.00, for a total value of $880,000.00. Following the sale, the general counsel now directly owns 18,742 shares of the company’s stock, valued at $1,649,296. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $89.78, for a total transaction of $336,675.00. The disclosure for this sale can be found here. Insiders sold 39,824 shares of company stock worth $3,560,349 over the last ninety days. 1.82% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SNPS. AXA raised its stake in shares of Synopsys by 22.8% during the second quarter. AXA now owns 704,528 shares of the semiconductor company’s stock worth $51,382,000 after acquiring an additional 130,700 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Synopsys during the second quarter worth approximately $448,000. Swiss National Bank raised its stake in shares of Synopsys by 0.9% during the third quarter. Swiss National Bank now owns 778,236 shares of the semiconductor company’s stock worth $62,671,000 after acquiring an additional 7,200 shares in the last quarter. AJO LP raised its stake in shares of Synopsys by 132.1% during the second quarter. AJO LP now owns 1,449,128 shares of the semiconductor company’s stock worth $105,685,000 after acquiring an additional 824,879 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Synopsys by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock worth $311,973,000 after acquiring an additional 125,190 shares in the last quarter. 89.70% of the stock is currently owned by institutional investors and hedge funds.
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Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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