Zacks: Analysts Expect Synopsys (SNPS) Will Post Quarterly Sales of $774.77 Million

Wall Street brokerages expect Synopsys (NASDAQ:SNPS) to post $774.77 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Synopsys’ earnings. The highest sales estimate is $779.00 million and the lowest is $767.50 million. Synopsys posted sales of $680.07 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The business is expected to announce its next quarterly earnings results on Wednesday, May 16th.

On average, analysts expect that Synopsys will report full-year sales of $774.77 million for the current year, with estimates ranging from $2.94 billion to $2.96 billion. For the next financial year, analysts expect that the company will post sales of $3.12 billion per share, with estimates ranging from $3.10 billion to $3.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Synopsys.

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Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Synopsys had a net margin of 1.63% and a return on equity of 6.72%. The firm had revenue of $769.40 million for the quarter, compared to analysts’ expectations of $750.43 million. During the same period in the previous year, the business earned $0.94 earnings per share. Synopsys’s revenue for the quarter was up 17.9% compared to the same quarter last year.

Several equities research analysts have commented on SNPS shares. JPMorgan Chase cut shares of Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price target on the stock. in a research report on Tuesday, December 12th. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. KeyCorp reiterated an “overweight” rating and issued a $110.00 price target (up from $106.00) on shares of Synopsys in a research report on Thursday, February 22nd. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Synopsys in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $97.33.

In other Synopsys news, EVP Joseph W. Logan sold 10,313 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $84.69, for a total transaction of $873,407.97. Following the sale, the executive vice president now owns 78,584 shares in the company, valued at approximately $6,655,278.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven Walske sold 4,545 shares of Synopsys stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total value of $409,595.40. Following the transaction, the director now directly owns 14,988 shares in the company, valued at approximately $1,350,718.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,245 shares of company stock worth $2,529,005. Corporate insiders own 1.84% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC purchased a new position in Synopsys during the 4th quarter valued at about $124,000. Robecosam AG grew its stake in Synopsys by 69.2% during the 4th quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $188,000 after acquiring an additional 900 shares in the last quarter. Calton & Associates Inc. purchased a new position in Synopsys during the 4th quarter valued at about $217,000. IBM Retirement Fund purchased a new position in Synopsys during the 4th quarter valued at about $201,000. Finally, Conning Inc. purchased a new position in Synopsys during the 4th quarter valued at about $205,000. 90.54% of the stock is currently owned by institutional investors.

Synopsys stock traded down $1.57 during midday trading on Friday, hitting $81.39. The company’s stock had a trading volume of 1,206,955 shares, compared to its average volume of 1,050,443. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. Synopsys has a 12 month low of $70.55 and a 12 month high of $94.80. The stock has a market cap of $12,305.51, a PE ratio of 92.49, a price-to-earnings-growth ratio of 5.33 and a beta of 1.09.

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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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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