Synopsys, Inc. (SNPS) Expected to Announce Earnings of $0.78 Per Share

Brokerages forecast that Synopsys, Inc. (NASDAQ:SNPS) will post earnings per share (EPS) of $0.78 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Synopsys’ earnings, with the lowest EPS estimate coming in at $0.77 and the highest estimate coming in at $0.79. Synopsys posted earnings of $0.69 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The firm is expected to report its next earnings results on Wednesday, December 5th.

On average, analysts expect that Synopsys will report full year earnings of $3.91 per share for the current fiscal year, with EPS estimates ranging from $3.90 to $3.92. For the next fiscal year, analysts anticipate that the business will report earnings of $4.18 per share, with EPS estimates ranging from $4.00 to $4.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Synopsys.

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

Several equities analysts recently issued reports on SNPS shares. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. KeyCorp lifted their price objective on Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, August 23rd. DA Davidson lifted their price objective on Synopsys to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Synopsys to $98.00 and gave the stock an “underweight” rating in a report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $106.14.

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

Several large investors have recently made changes to their positions in SNPS. BlackRock Inc. grew its position in shares of Synopsys by 5.2% in the second quarter. BlackRock Inc. now owns 14,683,291 shares of the semiconductor company’s stock valued at $1,256,450,000 after purchasing an additional 731,655 shares during the period. Voya Investment Management LLC grew its position in Synopsys by 142.8% during the second quarter. Voya Investment Management LLC now owns 936,019 shares of the semiconductor company’s stock valued at $80,095,000 after acquiring an additional 550,522 shares during the period. PointState Capital LP purchased a new stake in Synopsys during the second quarter valued at about $35,129,000. Assenagon Asset Management S.A. purchased a new stake in Synopsys during the second quarter valued at about $32,966,000. Finally, State of New Jersey Common Pension Fund D grew its position in Synopsys by 318.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 446,800 shares of the semiconductor company’s stock valued at $38,233,000 after acquiring an additional 340,000 shares during the period. 88.62% of the stock is owned by institutional investors and hedge funds.

Shares of SNPS stock opened at $91.29 on Friday. The firm has a market cap of $14.65 billion, a P/E ratio of 103.74, a PEG ratio of 6.28 and a beta of 1.18. Synopsys has a 1 year low of $80.13 and a 1 year high of $103.40. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04.

About Synopsys

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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