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.
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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