Synopsys, Inc. (NASDAQ:SNPS) Expected to Post Quarterly Sales of $893.51 Million

Wall Street analysts expect Synopsys, Inc. (NASDAQ:SNPS) to announce $893.51 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Synopsys’ earnings, with the highest sales estimate coming in at $904.18 million and the lowest estimate coming in at $887.75 million. Synopsys posted sales of $852.97 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The company is scheduled to report its next earnings results on Wednesday, August 19th.

According to Zacks, analysts expect that Synopsys will report full-year sales of $3.63 billion for the current financial year, with estimates ranging from $3.62 billion to $3.63 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.95 billion, with estimates ranging from $3.91 billion to $4.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Synopsys.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.23. Synopsys had a return on equity of 11.53% and a net margin of 13.96%. The company had revenue of $861.33 million for the quarter, compared to analyst estimates of $836.52 million. During the same quarter last year, the company earned $1.16 EPS. Synopsys’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Several equities research analysts have recently weighed in on SNPS shares. Royal Bank of Canada raised their target price on Synopsys from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 15th. Bank of America raised their price target on Synopsys from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Wells Fargo & Co raised their price target on Synopsys from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, KeyCorp raised their price target on Synopsys from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $186.50.

In other Synopsys news, Director Mercedes Johnson sold 15,838 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $193.35, for a total transaction of $3,062,277.30. Following the completion of the transaction, the director now directly owns 19,893 shares of the company’s stock, valued at approximately $3,846,311.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chi-Foon Chan sold 5,582 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $170.01, for a total value of $948,995.82. Following the transaction, the chief executive officer now directly owns 197,578 shares of the company’s stock, valued at $33,590,235.78. The disclosure for this sale can be found here. Insiders sold a total of 114,755 shares of company stock valued at $20,153,822 over the last three months. Corporate insiders own 1.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hudock Inc. raised its stake in shares of Synopsys by 625.0% during the first quarter. Hudock Inc. now owns 203 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 175 shares during the last quarter. Pearl River Capital LLC purchased a new position in Synopsys during the 1st quarter valued at about $29,000. Lion Street Advisors LLC purchased a new position in Synopsys during the 1st quarter valued at about $34,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Synopsys by 4,614.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 330 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 323 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in Synopsys during the 1st quarter valued at about $49,000. 88.83% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SNPS traded down $0.12 during midday trading on Tuesday, hitting $199.22. 985,479 shares of the company’s stock were exchanged, compared to its average volume of 676,161. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.87. Synopsys has a twelve month low of $104.90 and a twelve month high of $204.90. The company has a market cap of $29.99 billion, a PE ratio of 64.89, a P/E/G ratio of 3.50 and a beta of 1.18. The firm’s fifty day simple moving average is $193.10 and its 200-day simple moving average is $160.65.

Synopsys declared that its Board of Directors has initiated a share repurchase program on Friday, June 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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