Synopsys (NASDAQ:SNPS) updated its first quarter 2020
After-Hours earnings guidance on Wednesday. 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.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Synopsys from a sell rating to a hold rating and set a $142.00 target price on the stock in a research note on Monday, August 26th. Bank of America began coverage on shares of Synopsys in a research note on Monday, September 23rd. They issued a buy rating and a $171.00 price target on the stock. Wells Fargo & Co reaffirmed an outperform rating and issued a $160.00 price target (up from $150.00) on shares of Synopsys in a research note on Thursday, August 22nd. Needham & Company LLC set a $145.00 price target on shares of Synopsys and gave the company a buy rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Synopsys from $138.00 to $157.00 and gave the company a neutral rating in a research note on Wednesday, September 11th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Synopsys presently has an average rating of Buy and an average price target of $148.30.
Synopsys stock traded up $0.80 during midday trading on Wednesday, reaching $136.01. The company had a trading volume of 1,019,312 shares, compared to its average volume of 1,078,809. The company has a market capitalization of $21.20 billion, a P/E ratio of 48.23, a P/E/G ratio of 3.46 and a beta of 1.20. Synopsys has a 12-month low of $79.14 and a 12-month high of $146.66. The firm’s fifty day simple moving average is $137.49 and its 200-day simple moving average is $133.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.90.
In related news, VP Sudhindra Kankanwadi sold 8,011 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $1,250,070.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.84% of the company’s stock.
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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