Synopsys (SNPS) Releases Q3 2019 Earnings Guidance

Synopsys (NASDAQ:SNPS) updated its third quarter 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.07-1.12 for the period, compared to the Thomson Reuters consensus estimate of $1.06. The company issued revenue guidance of $810-850 million, compared to the consensus revenue estimate of $828.7 million.Synopsys also updated its FY 2019 guidance to $4.24-4.40 EPS.

Several research firms have recently issued reports on SNPS. Zacks Investment Research upgraded shares of Synopsys from a hold rating to a strong-buy rating and set a $117.00 price objective for the company in a report on Monday, February 25th. BidaskClub cut shares of Synopsys from a strong-buy rating to a buy rating in a report on Wednesday. KeyCorp began coverage on shares of Synopsys in a report on Wednesday, April 10th. They issued an overweight rating and a $135.00 price objective for the company. Needham & Company LLC reiterated a buy rating and issued a $120.00 price objective (up from $115.00) on shares of Synopsys in a report on Thursday, March 28th. Finally, Royal Bank of Canada increased their price objective on shares of Synopsys from $130.00 to $140.00 and gave the company a top pick rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $121.10.

Shares of NASDAQ:SNPS opened at $117.01 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.82. The company has a market capitalization of $17.51 billion, a P/E ratio of 41.49, a PEG ratio of 3.32 and a beta of 1.30. Synopsys has a 52 week low of $79.14 and a 52 week high of $124.12.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $836.20 million during the quarter, compared to the consensus estimate of $829.41 million. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Synopsys will post 3.17 earnings per share for the current year.

In other Synopsys news, Director John Schwarz sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $117.61, for a total value of $1,176,100.00. Following the completion of the sale, the director now owns 16,491 shares in the company, valued at approximately $1,939,506.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel John F. Runkel, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $109.51, for a total transaction of $547,550.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,450 shares of company stock valued at $2,799,395. 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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