Synopsys (SNPS) to Release Quarterly Earnings on Wednesday

Synopsys (NASDAQ:SNPS) will issue its quarterly earnings data after the market closes on Wednesday, August 21st. Analysts expect the company to announce earnings of $3.28 per share for the quarter. Synopsys has set its FY 2024 guidance at 12.900-12.980 EPS and its Q3 2024 guidance at 3.250-3.300 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Synopsys (NASDAQ:SNPS) last issued its quarterly 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 net margin of 23.05% and a return on equity of 22.66%. 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 EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts expect Synopsys to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Synopsys Trading Up 1.7 %

NASDAQ:SNPS opened at $558.22 on Tuesday. The firm has a fifty day simple moving average of $573.63 and a 200-day simple moving average of $566.64. Synopsys has a 12 month low of $427.63 and a 12 month high of $629.38. The company has a market capitalization of $85.53 billion, a P/E ratio of 60.68, a PEG ratio of 3.42 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird increased their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Piper Sandler raised their target price on shares of Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has an average rating of “Buy” and a consensus target price of $629.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 in the last ninety days. 0.66% of the stock is owned by insiders.

About Synopsys

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.