Synopsys (SNPS) Updates FY 2019 Earnings Guidance

Synopsys (NASDAQ:SNPS) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.24-4.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.28. The company issued revenue guidance of $3.29-3.35 billion, compared to the consensus revenue estimate of $3.33 billion.Synopsys also updated its FY19 guidance to $4.24-4.40 EPS.

Shares of Synopsys stock traded down $0.69 during trading hours on Thursday, hitting $115.09. The company’s stock had a trading volume of 2,456,683 shares, compared to its average volume of 968,557. Synopsys has a 1-year low of $79.14 and a 1-year high of $124.12. The firm has a market capitalization of $17.33 billion, a P/E ratio of 40.81, a PEG ratio of 3.32 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The company had revenue of $836.20 million during the quarter, compared to analyst estimates of $829.41 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts expect that Synopsys will post 3.17 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on SNPS shares. BidaskClub raised shares of Synopsys from a buy rating to a strong-buy rating in a research report on Wednesday, March 13th. Zacks Investment Research raised shares of Synopsys from a hold rating to a strong-buy rating and set a $117.00 price objective for the company in a research report on Monday, February 25th. Needham & Company LLC reissued a buy rating and issued a $120.00 price objective on shares of Synopsys in a research report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on shares of Synopsys from $130.00 to $140.00 and gave the stock a top pick rating in a research report on Thursday, April 11th. Finally, DA Davidson increased their price objective on shares of Synopsys to $125.00 and gave the stock a positive rating in a research report on Thursday, February 21st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $121.10.

In other news, VP Sudhindra Kankanwadi sold 2,085 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $102.71, for a total value of $214,150.35. Following the completion of the transaction, the vice president now directly owns 10,387 shares in the company, valued at $1,066,848.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $101.71, for a total transaction of $1,017,100.00. Following the completion of the transaction, the general counsel now owns 21,071 shares of the company’s stock, valued at $2,143,131.41. The disclosure for this sale can be found here. Insiders sold 142,190 shares of company stock valued at $14,729,218 over the last 90 days. Insiders own 1.84% of the company’s stock.

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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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