Synopsys, Inc. (NASDAQ:SNPS) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.55-0.58 for the period, compared to the Thomson Reuters consensus 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.
A number of research analysts recently weighed in on the stock. Needham & Company LLC reissued a buy rating and set a $77.00 price target (up from $76.00) on shares of Synopsys in a research report on Thursday, May 18th. Royal Bank Of Canada raised their price target on shares of Synopsys from $85.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, August 17th. BidaskClub raised shares of Synopsys from a buy rating to a strong-buy rating in a research 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 objective on the stock in a research report on Monday, August 21st. Finally, Pacific Crest reaffirmed an overweight rating and issued a $86.00 price objective (up previously from $78.00) on shares of Synopsys in a research report on Friday, May 19th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $83.38.
Shares of Synopsys, Inc. (NASDAQ:SNPS) opened at 79.57 on Wednesday. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 37.36 and a beta of 0.99. Synopsys, Inc. has a 12 month low of $56.03 and a 12 month high of $80.70. The firm has a 50-day moving average of $77.86 and a 200 day moving average of $74.34.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post $3.31 earnings per share for the current year.
Synopsys declared that its Board of Directors has authorized a stock buyback program on Friday, June 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $77.50, for a total value of $290,625.00. Following the transaction, the chief executive officer now owns 200,429 shares in the company, valued at approximately $15,533,247.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the completion of the transaction, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is 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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