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.
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.
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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