Brokerages Anticipate Synopsys, Inc. (NASDAQ:SNPS) to Announce $1.52 Earnings Per Share

Brokerages expect Synopsys, Inc. (NASDAQ:SNPS) to announce earnings per share (EPS) of $1.52 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Synopsys’ earnings, with estimates ranging from $1.50 to $1.55. Synopsys posted earnings of $1.22 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 24.6%. The firm is expected to report its next quarterly earnings report on Wednesday, May 19th.

On average, analysts expect that Synopsys will report full year earnings of $6.29 per share for the current financial year, with EPS estimates ranging from $6.25 to $6.34. For the next fiscal year, analysts anticipate that the company will report earnings of $7.12 per share, with EPS estimates ranging from $6.92 to $7.25. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Synopsys.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 17th. The semiconductor company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.45. Synopsys had a net margin of 18.03% and a return on equity of 14.81%. The company had revenue of $970.32 million for the quarter, compared to analyst estimates of $952.24 million. During the same quarter last year, the firm posted $1.01 earnings per share.

A number of equities analysts recently issued reports on SNPS shares. Credit Suisse Group boosted their target price on shares of Synopsys from $265.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, February 18th. Needham & Company LLC boosted their price target on shares of Synopsys from $275.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Zacks Investment Research lowered shares of Synopsys from a “hold” rating to a “strong sell” rating and set a $224.00 price target on the stock. in a report on Tuesday, February 2nd. DA Davidson boosted their target price on shares of Synopsys from $285.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, February 18th. Finally, Royal Bank of Canada upped their target price on shares of Synopsys from $250.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $279.75.

SNPS stock traded down $8.75 on Thursday, reaching $236.06. 17,468 shares of the company were exchanged, compared to its average volume of 907,930. Synopsys has a 12 month low of $147.98 and a 12 month high of $300.91. The stock’s fifty day moving average price is $248.12 and its 200 day moving average price is $246.43. The firm has a market capitalization of $35.97 billion, a PE ratio of 57.47, a PEG ratio of 5.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.10.

In related news, CEO Geus Aart De sold 28,311 shares of the company’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $241.42, for a total transaction of $6,834,841.62. Following the completion of the sale, the chief executive officer now owns 93,848 shares in the company, valued at $22,656,784.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chi-Foon Chan sold 6,372 shares of the company’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $269.37, for a total value of $1,716,425.64. In the last 90 days, insiders have sold 92,030 shares of company stock valued at $23,699,496. Corporate insiders own 1.84% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SNPS. FMR LLC boosted its position in Synopsys by 1.1% in the first quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock worth $29,613,000 after purchasing an additional 2,914 shares during the last quarter. Westover Capital Advisors LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at $266,000. Eudaimonia Partners LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at $88,000. Townsquare Capital LLC lifted its position in shares of Synopsys by 57.2% during the 3rd quarter. Townsquare Capital LLC now owns 8,195 shares of the semiconductor company’s stock valued at $1,757,000 after buying an additional 2,981 shares during the last quarter. Finally, Brinker Capital Investments LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at $1,043,000. 86.11% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Company Profile

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