DA Davidson Analysts Increase Earnings Estimates for Synopsys, Inc. (SNPS)

Synopsys, Inc. (NASDAQ:SNPS) – Analysts at DA Davidson raised their FY2019 EPS estimates for Synopsys in a research note issued on Thursday, May 23rd. DA Davidson analyst T. Diffely now expects that the semiconductor company will post earnings per share of $3.19 for the year, up from their prior estimate of $3.14. DA Davidson has a “Buy” rating and a $135.00 price objective on the stock.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The firm had revenue of $836.20 million during the quarter, compared to analysts’ expectations of $829.41 million. During the same quarter in the previous year, the company posted $1.08 EPS. Synopsys’s revenue was up 7.6% on a year-over-year basis.



Several other research analysts have also recently weighed in on SNPS. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Monday, February 25th. BidaskClub cut shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 22nd. KeyCorp began coverage on shares of Synopsys in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective (up previously from $115.00) on shares of Synopsys in a research report on Thursday, March 28th. Finally, Royal Bank of Canada boosted their price objective on shares of Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Synopsys presently has a consensus rating of “Buy” and an average target price of $123.22.

SNPS stock opened at $116.71 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.82. Synopsys has a fifty-two week low of $79.14 and a fifty-two week high of $124.12. The company has a market capitalization of $17.47 billion, a P/E ratio of 41.39, a P/E/G ratio of 3.32 and a beta of 1.30.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $109.51, for a total transaction of $547,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sudhindra Kankanwadi sold 2,085 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $102.71, for a total transaction of $214,150.35. Following the sale, the vice president now owns 10,387 shares of the company’s stock, valued at approximately $1,066,848.77. The disclosure for this sale can be found here. Insiders have sold a total of 17,085 shares of company stock valued at $1,937,800 in the last quarter. Corporate insiders own 1.84% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. GYL Financial Synergies LLC bought a new stake in shares of Synopsys during the 1st quarter valued at $999,000. Nordea Investment Management AB grew its holdings in shares of Synopsys by 20.8% in the 1st quarter. Nordea Investment Management AB now owns 343,478 shares of the semiconductor company’s stock valued at $39,551,000 after buying an additional 59,165 shares during the period. Cypress Wealth Advisors LLC acquired a new position in shares of Synopsys in the 1st quarter valued at $230,000. Horizon Investments LLC acquired a new position in shares of Synopsys in the 1st quarter valued at $233,000. Finally, FMR LLC grew its holdings in shares of Synopsys by 1.1% in the 1st quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock valued at $29,613,000 after buying an additional 2,914 shares during the period. Institutional investors own 91.04% of the company’s stock.

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.

Further Reading: What is the NASDAQ Stock Market?

Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.