Synopsys (NASDAQ:SNPS) issued an update on its first quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.89-0.94 for the period, compared to the Thomson Reuters consensus estimate of $1.20. The company issued revenue guidance of $805-835 million, compared to the consensus revenue estimate of $871.21 million.Synopsys also updated its FY 2020
After-Hours guidance to 5.18-5.25 EPS.
Shares of Synopsys stock traded up $0.80 during trading on Wednesday, hitting $136.01. 1,019,312 shares of the stock were exchanged, compared to its average volume of 1,078,809. The stock has a market cap of $21.20 billion, a price-to-earnings ratio of 48.23, a price-to-earnings-growth ratio of 3.46 and a beta of 1.20. The firm’s 50-day moving average price is $137.49 and its 200 day moving average price is $133.03. Synopsys has a 12-month low of $79.14 and a 12-month high of $146.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.90.
Several equities research analysts have recently issued reports on SNPS shares. Wells Fargo & Co reaffirmed an outperform rating and set a $160.00 price objective (up from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. BidaskClub cut shares of Synopsys from a buy rating to a hold rating in a research report on Saturday, October 19th. ValuEngine cut shares of Synopsys from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Credit Suisse Group reaffirmed a positive rating and set a $150.00 price objective (up from $125.00) on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Needham & Company LLC set a $145.00 price objective on shares of Synopsys and gave the stock a buy rating in a research report on Monday, September 30th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Synopsys currently has an average rating of Buy and a consensus target price of $148.30.
In related news, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $144.30, for a total value of $1,155,987.30. Following the completion of the sale, the vice president now directly owns 8,663 shares of the company’s stock, valued at $1,250,070.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.84% of the stock is owned by insiders.
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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