Brokerages Anticipate Synopsys, Inc. (NASDAQ:SNPS) Will Announce Quarterly Sales of $829.52 Million

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Equities analysts expect that Synopsys, Inc. (NASDAQ:SNPS) will report sales of $829.52 million for the current quarter, according to Zacks. Five analysts have provided estimates for Synopsys’ earnings. The highest sales estimate is $831.30 million and the lowest is $827.78 million. Synopsys reported sales of $779.71 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 28th.

According to Zacks, analysts expect that Synopsys will report full year sales of $3.33 billion for the current fiscal year, with estimates ranging from $3.32 billion to $3.34 billion. For the next financial year, analysts anticipate that the business will report sales of $3.57 billion, with estimates ranging from $3.55 billion to $3.60 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Synopsys.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The firm had revenue of $836.20 million during the quarter, compared to analyst estimates of $829.41 million. During the same period in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year.

Several research analysts have issued reports on the company. KeyCorp increased their price objective on Synopsys from $135.00 to $152.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. DA Davidson increased their price objective on Synopsys to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Zacks Investment Research lowered Synopsys from a “hold” rating to a “sell” rating and set a $143.00 price objective for the company. in a research note on Wednesday, July 24th. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Co assumed coverage on Synopsys in a research note on Tuesday, May 14th. They set an “outperform” rating and a $135.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $128.00.

Synopsys stock opened at $132.76 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $132.40. Synopsys has a 52-week low of $79.14 and a 52-week high of $138.72. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 47.08, a P/E/G ratio of 4.09 and a beta of 1.27.

In other news, Chairman Geus Aart De sold 156,100 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $117.15, for a total value of $18,287,115.00. Following the completion of the sale, the chairman now directly owns 189,894 shares in the company, valued at $22,246,082.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $117.36, for a total value of $1,173,600.00. Following the completion of the sale, the general counsel now owns 26,331 shares of the company’s stock, valued at $3,090,206.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,180 shares of company stock valued at $24,653,559. 1.84% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Synopsys by 1.1% in the first quarter. BlackRock Inc. now owns 12,336,835 shares of the semiconductor company’s stock worth $1,420,588,000 after purchasing an additional 134,481 shares during the period. JPMorgan Chase & Co. increased its position in Synopsys by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock worth $607,189,000 after purchasing an additional 1,513,575 shares during the period. Geode Capital Management LLC increased its position in Synopsys by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 2,244,335 shares of the semiconductor company’s stock worth $188,775,000 after purchasing an additional 109,140 shares during the period. Egerton Capital UK LLP increased its position in Synopsys by 142.3% in the first quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock worth $253,271,000 after purchasing an additional 1,291,643 shares during the period. Finally, Northern Trust Corp increased its position in Synopsys by 2.4% in the first quarter. Northern Trust Corp now owns 1,919,755 shares of the semiconductor company’s stock worth $221,060,000 after purchasing an additional 45,718 shares during the period. Hedge funds and other institutional investors own 91.73% of the company’s stock.

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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