Synopsys (SNPS) Given Media Impact Rating of 0.24
News articles about Synopsys (NASDAQ:SNPS) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Synopsys earned a coverage optimism score of 0.24 on Accern’s scale. Accern also assigned headlines about the semiconductor company an impact score of 63 out of 100, indicating that recent media coverage is somewhat likely to have an impact on the company’s share price in the immediate future.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Synopsys Announces Earnings Release Date for Third Quarter Fiscal Year 2017 (finance.yahoo.com)
- Pre-Market Technical Recap on Semiconductor Stocks — Oclaro, United Microelectronics, Cree Inc., and Synopsys (technews.tmcnet.com)
- Synopsys, Inc. (NASDAQ:SNPS) Experiences Lighter than Average Trading Volume (highlightpress.com)
- Agree To Purchase Synopsys At $70, Earn 5% Annualized Using Options (nasdaq.com)
Shares of Synopsys (NASDAQ:SNPS) traded up 0.08% during mid-day trading on Thursday, hitting $76.10. 724,882 shares of the company traded hands. The firm has a 50-day moving average of $74.74 and a 200-day moving average of $71.67. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 42.51 and a beta of 1.02. Synopsys has a one year low of $53.92 and a one year high of $77.29.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The business had revenue of $680.07 million during the quarter, compared to the consensus estimate of $672.40 million. During the same quarter last year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Synopsys will post $3.28 earnings per share for the current year.
Synopsys announced that its board has initiated a share repurchase program on Friday, June 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Several research analysts have recently weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $76.00 price objective on shares of Synopsys in a research note on Monday, April 17th. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada restated an “outperform” rating and set a $85.00 price objective (up from $77.00) on shares of Synopsys in a research note on Thursday, May 18th. Pacific Crest restated an “overweight” rating and set a $86.00 price objective (up from $78.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, DA Davidson restated a “buy” rating and set a $85.00 price objective (up from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Synopsys presently has a consensus rating of “Buy” and an average price target of $75.78.
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In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $71.00, for a total transaction of $710,000.00. Following the completion of the sale, the general counsel now owns 18,239 shares in the company, valued at $1,294,969. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Geus Aart De sold 264,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $71.01, for a total transaction of $18,746,640.00. Following the sale, the chairman now owns 220,133 shares of the company’s stock, valued at approximately $15,631,644.33. The disclosure for this sale can be found here. Insiders have sold 304,246 shares of company stock valued at $21,608,505 in the last 90 days. 1.82% of the stock is currently owned by corporate insiders.
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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