$849.55 Million in Sales Expected for Synopsys, Inc. (NASDAQ:SNPS) This Quarter

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Analysts expect Synopsys, Inc. (NASDAQ:SNPS) to announce $849.55 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Synopsys’ earnings. The highest sales estimate is $854.10 million and the lowest is $845.00 million. Synopsys reported sales of $795.08 million during the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, December 4th.

According to Zacks, analysts expect that Synopsys will report full-year sales of $3.35 billion for the current fiscal year, with estimates ranging from $3.33 billion to $3.36 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.60 billion, with estimates ranging from $3.55 billion to $3.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Synopsys.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS.

SNPS has been the topic of a number of recent research reports. KeyCorp increased their price objective on Synopsys from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. DA Davidson increased their price objective on Synopsys to $155.00 and gave the stock a “positive” rating in a report on Thursday, August 22nd. Zacks Investment Research raised Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective on the stock in a report on Monday, August 26th. BidaskClub cut Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Needham & Company LLC increased their price objective on Synopsys from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Synopsys currently has an average rating of “Buy” and a consensus price target of $143.10.

In other Synopsys news, Director Steven Walske sold 2,453 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $126.54, for a total value of $310,402.62. Following the transaction, the director now directly owns 14,038 shares in the company, valued at approximately $1,776,368.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $144.30, for a total value of $1,155,987.30. Following the completion of the transaction, the vice president now owns 8,663 shares in the company, valued at $1,250,070.90. The disclosure for this sale can be found here. Insiders sold a total of 51,881 shares of company stock worth $6,932,729 over the last 90 days. Corporate insiders own 1.84% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Synopsys by 18.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,026 shares of the semiconductor company’s stock valued at $3,735,000 after purchasing an additional 4,472 shares during the last quarter. Keudell Morrison Wealth Management bought a new position in Synopsys during the 2nd quarter worth approximately $2,448,000. BlackRock Inc. grew its position in Synopsys by 4.5% during the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock worth $1,658,997,000 after acquiring an additional 554,602 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in Synopsys during the 2nd quarter worth approximately $633,000. Finally, Cresset Asset Management LLC grew its position in Synopsys by 334.4% during the 2nd quarter. Cresset Asset Management LLC now owns 3,080 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 2,371 shares during the last quarter. Hedge funds and other institutional investors own 89.28% of the company’s stock.

Shares of SNPS opened at $133.21 on Thursday. The stock’s 50-day simple moving average is $134.72 and its 200 day simple moving average is $124.00. The stock has a market capitalization of $20.23 billion, a price-to-earnings ratio of 47.24, a price-to-earnings-growth ratio of 3.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. Synopsys has a 52-week low of $79.14 and a 52-week high of $146.66.

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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