Synopsys (NASDAQ:SNPS) Issues FY 2020 After-Hours Earnings Guidance

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Synopsys (NASDAQ:SNPS) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided EPS guidance of 5.18-5.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.07. The company issued revenue guidance of $3.6-3.65 billion, compared to the consensus revenue estimate of $3.62 billion.Synopsys also updated its Q1 2020
After-Hours guidance to 0.89-0.94 EPS.

Shares of NASDAQ:SNPS traded up $0.80 during trading on Wednesday, hitting $136.01. 1,019,760 shares of the company’s stock were exchanged, compared to its average volume of 1,078,809. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.90. Synopsys has a 52-week low of $79.14 and a 52-week high of $146.66. The business’s 50-day simple moving average is $137.49 and its 200 day simple moving average is $133.03. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 48.23, a PEG ratio of 3.46 and a beta of 1.20.

SNPS has been the subject of several research analyst reports. Needham & Company LLC set a $145.00 target price on Synopsys and gave the stock a buy rating in a research report on Monday, September 30th. ValuEngine cut Synopsys from a buy rating to a hold rating in a research report on Wednesday, October 2nd. BidaskClub cut Synopsys from a buy rating to a hold rating in a research report on Saturday, October 19th. Wells Fargo & Co reiterated an outperform rating and set a $160.00 target price (up previously from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price on Synopsys from $138.00 to $157.00 and gave the stock a neutral rating in a research report on Wednesday, September 11th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $148.30.

In other Synopsys news, VP Sudhindra Kankanwadi sold 8,011 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the completion of the transaction, the vice president now owns 8,663 shares in the company, valued at approximately $1,250,070.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.84% of the company’s stock.

About Synopsys

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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