Synopsys, Inc. (SNPS) Issues Q4 Earnings Guidance
Synopsys, Inc. (NASDAQ:SNPS) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided EPS guidance of 0.55-0.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.57. The company issued revenue guidance of $642-657, compared to the consensus revenue estimate of $650.72 million.Synopsys also updated its FY17 guidance to $3.29-3.32 EPS.
Synopsys, Inc. (NASDAQ:SNPS) traded up 0.08% during mid-day trading on Monday, hitting $79.60. 1,023,345 shares of the stock traded hands. Synopsys, Inc. has a 1-year low of $56.03 and a 1-year high of $80.70. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 37.37 and a beta of 0.99. The stock has a 50-day moving average of $77.80 and a 200 day moving average of $74.28.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $695.40 million during the quarter, compared to the consensus estimate of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities analysts expect that Synopsys, Inc. will post $3.31 EPS for the current year.
Synopsys announced that its board has authorized a stock repurchase program on Friday, June 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have weighed in on the stock. Needham & Company LLC reissued a buy rating and issued a $77.00 price target (up from $76.00) on shares of Synopsys in a report on Thursday, May 18th. Royal Bank Of Canada upped their price target on shares of Synopsys from $85.00 to $90.00 and gave the company an outperform rating in a report on Thursday, August 17th. BidaskClub raised shares of Synopsys from a buy rating to a strong-buy rating in a report on Thursday, August 17th. Zacks Investment Research raised shares of Synopsys from a hold rating to a buy rating and set a $86.00 price target for the company in a report on Monday, August 21st. Finally, Pacific Crest reissued an overweight rating and issued a $86.00 price target (up from $78.00) on shares of Synopsys in a report on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $83.38.
In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the sale, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the sale, the chief executive officer now owns 200,429 shares in the company, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by corporate insiders.
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Synopsys Company Profile
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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