Synopsys (NASDAQ:SNPS) Releases Earnings Results, Misses Expectations By $0.56 EPS

Synopsys (NASDAQ:SNPS) posted its quarterly earnings results on Wednesday. The semiconductor company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.56), Zacks reports. Synopsys had a return on equity of 20.48% and a net margin of 36.12%.

Synopsys Trading Up 2.7 %

Shares of NASDAQ:SNPS traded up $12.51 during trading on Wednesday, reaching $470.46. 1,517,599 shares of the company traded hands, compared to its average volume of 1,098,591. The business’s fifty day moving average is $508.09 and its 200-day moving average is $516.89. The firm has a market capitalization of $72.72 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys has a 52-week low of $457.00 and a 52-week high of $624.80.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNPS shares. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Piper Sandler decreased their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $639.58.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.