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

Wall Street brokerages forecast 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. The lowest sales estimate is $791.40 million and the highest is $796.58 million. Synopsys reported sales of $696.64 million during the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The business is scheduled to report its next earnings report after the market closes on Wednesday, December 5th.

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

A number of equities research analysts recently issued reports on SNPS shares. JPMorgan Chase & Co. upgraded Synopsys from an “underweight” rating to a “neutral” rating and set a $98.00 price objective on the stock in a research report on Tuesday, October 23rd. KeyCorp increased their price objective on Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 23rd. BidaskClub downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $108.50.

Shares of SNPS stock traded up $2.71 on Monday, reaching $88.30. The company’s stock had a trading volume of 1,262,300 shares, compared to its average volume of 1,080,678. 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 12-month low of $80.13 and a 12-month high of $103.40. The company has a market capitalization of $12.72 billion, a PE ratio of 99.11, a price-to-earnings-growth ratio of 3.37 and a beta of 1.27.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the sale, the general counsel now owns 22,322 shares in the company, valued at $2,276,844. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC purchased a new position in shares of Synopsys in the third quarter worth about $101,000. Fort L.P. purchased a new position in shares of Synopsys in the second quarter worth about $117,000. Piedmont Investment Advisors LLC purchased a new position in shares of Synopsys in the second quarter worth about $149,000. Diversified Trust Co purchased a new position in shares of Synopsys in the third quarter worth about $200,000. Finally, IFP Advisors Inc increased its holdings in shares of Synopsys by 264.0% in the third quarter. IFP Advisors Inc now owns 2,042 shares of the semiconductor company’s stock worth $201,000 after buying an additional 1,481 shares during the period. Institutional investors and hedge funds own 91.70% of the company’s stock.

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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