Synopsys, Inc. (SNPS) Expected to Post Quarterly Sales of $794.55 Million

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Wall Street analysts expect that Synopsys, Inc. (NASDAQ:SNPS) will report sales of $794.55 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Synopsys’ earnings, with the lowest sales estimate coming in at $791.40 million and the highest estimate coming in at $796.58 million. Synopsys posted sales of $696.64 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The company is expected to announce its next quarterly earnings report on Wednesday, December 5th.

On average, analysts expect that Synopsys will report full year sales of $3.12 billion for the current fiscal year. For the next year, analysts anticipate that the company will post sales of $3.28 billion, with estimates ranging from $3.23 billion to $3.35 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Synopsys.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The business had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year.

SNPS has been the subject of a number of recent research reports. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 19th. DA Davidson increased their target price on Synopsys to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. KeyCorp increased their target price on Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. increased their target price on Synopsys to $98.00 and gave the company an “underweight” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Synopsys currently has a consensus rating of “Hold” and an average target price of $106.14.

In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $102.00, for a total value of $1,020,000.00. Following the completion of the transaction, the general counsel now owns 22,322 shares of the company’s stock, valued at $2,276,844. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the transaction, the executive vice president now directly owns 88,271 shares of the company’s stock, valued at approximately $8,953,327.53. The disclosure for this sale can be found here. Insiders sold 33,609 shares of company stock valued at $3,416,177 in the last three months. 1.84% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Fort L.P. purchased a new position in Synopsys in the second quarter valued at about $117,000. Piedmont Investment Advisors LLC bought a new position in Synopsys during the 2nd quarter worth approximately $149,000. Advisor Partners LLC bought a new position in Synopsys during the 2nd quarter worth approximately $205,000. Checchi Capital Advisers LLC bought a new position in Synopsys during the 2nd quarter worth approximately $205,000. Finally, First Republic Investment Management Inc. bought a new position in Synopsys during the 2nd quarter worth approximately $209,000. 88.62% of the stock is owned by hedge funds and other institutional investors.

Shares of SNPS stock traded up $2.37 during trading hours on Monday, reaching $88.12. The company had a trading volume of 1,544,035 shares, compared to its average volume of 1,060,921. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.70 and a current ratio of 0.70. Synopsys has a twelve month low of $80.13 and a twelve month high of $103.40. The firm has a market cap of $14.65 billion, a P/E ratio of 100.14, a price-to-earnings-growth ratio of 6.28 and a beta of 1.18.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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