Synopsys (NASDAQ:SNPS) Issues Q4 2019 Earnings Guidance

Synopsys (NASDAQ:SNPS) updated its fourth quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $1.10-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.10. The company issued revenue guidance of $830-860 million, compared to the consensus revenue estimate of $831.02 million.Synopsys also updated its FY 2019 guidance to $4.52-4.57 EPS.

Several equities research analysts have commented on the stock. KeyCorp boosted their price target on shares of Synopsys from $152.00 to $153.00 and gave the stock an overweight rating in a research report on Thursday. DA Davidson upped their target price on shares of Synopsys to $155.00 and gave the company a positive rating in a report on Thursday. Needham & Company LLC upped their target price on shares of Synopsys from $125.00 to $145.00 and gave the company a buy rating in a report on Thursday. Bank of America reaffirmed an average rating on shares of Synopsys in a report on Wednesday, June 5th. Finally, Credit Suisse Group reaffirmed a positive rating and issued a $150.00 target price (up from $125.00) on shares of Synopsys in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Synopsys has a consensus rating of Buy and a consensus price target of $137.30.

Shares of SNPS stock opened at $131.84 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.95. The firm’s 50-day moving average is $133.30 and its 200-day moving average is $119.17. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 3.90 and a beta of 1.27. Synopsys has a 52-week low of $79.14 and a 52-week high of $138.72.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.56. The company had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $831.03 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. Synopsys’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Sell-side analysts predict that Synopsys will post 3.03 EPS for the current fiscal year.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $117.36, for a total value of $1,173,600.00. Following the transaction, the general counsel now directly owns 26,331 shares of the company’s stock, valued at approximately $3,090,206.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sudhindra Kankanwadi sold 3,133 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $121.88, for a total transaction of $381,850.04. Following the completion of the transaction, the vice president now directly owns 8,416 shares in the company, valued at $1,025,742.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 207,180 shares of company stock worth $24,653,559. 1.84% of the stock is owned by insiders.

About Synopsys

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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