Synopsys (SNPS) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS
Synopsys (NASDAQ:SNPS) announced its quarterly earnings results on Wednesday. The semiconductor company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10, Bloomberg Earnings reports. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The firm had revenue of $769.40 million for the quarter, compared to analyst estimates of $750.43 million. During the same period last year, the business earned $0.94 EPS. Synopsys’s revenue for the quarter was up 17.9% compared to the same quarter last year. Synopsys updated its Q2 guidance to $1.06-1.10 EPS and its FY18 guidance to $3.67-3.74 EPS.
Synopsys (SNPS) traded down $1.30 during midday trading on Wednesday, reaching $88.46. 1,472,954 shares of the company’s stock were exchanged, compared to its average volume of 1,028,079. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $13,380.00, a price-to-earnings ratio of 102.86, a PEG ratio of 3.97 and a beta of 1.04. Synopsys has a one year low of $69.42 and a one year high of $94.80.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $88.00, for a total value of $880,000.00. Following the transaction, the general counsel now directly owns 18,742 shares in the company, valued at $1,649,296. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction on Friday, December 1st. The shares were sold at an average price of $90.33, for a total transaction of $451,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,442 shares of company stock worth $5,779,693. 1.82% of the stock is currently owned by company insiders.
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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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