Synopsys (NASDAQ:SNPS) Updates Q4 Earnings Guidance
Synopsys (NASDAQ:SNPS) has updated its Q4 earnings guidance, projecting EPS of $3.27-$3.32, higher than the consensus estimate of $3.25. Revenue guidance is set at $614 million-$1.644 billion, compared to the expected $620 million. Analysts have been optimistic, with multiple firms raising their price targets and maintaining buy or overweight ratings on the stock. Despite a recent dip in earnings, Synopsys continues to show promising revenue growth and strong analyst support.
Synopsys (NASDAQ:SNPS - Get Free Report) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.27-3.32 for the period, compared to the consensus estimate of $3.25. The company issued revenue guidance of $1.614-1.644 billion, compared to the consensus revenue estimate of $1.62 billion.
Analyst Upgrades and Downgrades
- Semiconductor Stock Giant Beats on EPS, Faces Large Backlog
A number of analysts recently weighed in on SNPS shares. Piper Sandler upped their price target on shares of Synopsys from $672.00 to $687.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Robert W. Baird upped their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an outperform rating in a research report on Tuesday, July 2nd. Rosenblatt Securities upped their price objective on shares of Synopsys from $615.00 to $635.00 and gave the company a buy rating in a research report on Thursday, August 15th. KeyCorp upped their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an overweight rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC reiterated a buy rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $629.00.
Check Out Our Latest Report on Synopsys
Synopsys Stock Up 1.4 %
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NASDAQ:SNPS traded up $7.65 on Wednesday, reaching $564.68. The stock had a trading volume of 854,629 shares, compared to its average volume of 1,063,336. The company has a market capitalization of $86.52 billion, a P/E ratio of 61.01, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07. Synopsys has a 1-year low of $433.82 and a 1-year high of $629.38. The stock has a fifty day moving average price of $573.18 and a 200-day moving average price of $566.67.
Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. Synopsys's revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts predict that Synopsys will post 9.55 earnings per share for the current fiscal year.
Insider Activity at Synopsys
- Silvaco Stock: Consider Early Investment in New Semiconductor
In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company's stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company's stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total value of $3,197,590.00. Following the completion of the sale, the director now owns 1,543 shares in the company, valued at $897,069.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the firm's stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares of the company's stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 over the last ninety days. Company insiders own 0.66% of the company's stock.
Synopsys Company Profile
(Get Free Report)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.
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