Synopsys (NASDAQ:SNPS) Releases Q1 2020 After-Hours Earnings Guidance

Synopsys (NASDAQ:SNPS) issued an update on its first quarter 2020
After-Hours earnings guidance on Wednesday morning. 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.

Shares of NASDAQ SNPS traded up $0.80 during midday trading on Wednesday, reaching $136.01. 1,019,760 shares of the company were exchanged, compared to its average volume of 1,078,809. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. Synopsys has a 1 year low of $79.14 and a 1 year high of $146.66. The stock has a fifty day simple moving average of $137.49 and a 200 day simple moving average of $133.03. The stock has a market cap of $21.20 billion, a P/E ratio of 48.23, a PEG ratio of 3.46 and a beta of 1.20.

SNPS has been the topic of a number of research reports. Bank of America initiated coverage on Synopsys in a report on Monday, September 23rd. They set a buy rating and a $171.00 price target on the stock. KeyCorp raised their price target on Synopsys from $152.00 to $153.00 and gave the stock an overweight rating in a report on Thursday, August 22nd. Credit Suisse Group reissued a positive rating and set a $150.00 price target (up previously from $125.00) on shares of Synopsys in a report on Thursday, August 22nd. Zacks Investment Research raised Synopsys from a sell rating to a hold rating and set a $142.00 price target on the stock in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their price target on Synopsys from $138.00 to $157.00 and gave the stock a neutral rating in a report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $148.30.

In other Synopsys news, VP Sudhindra Kankanwadi sold 8,011 shares of Synopsys stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total value of $1,155,987.30. Following the sale, the vice president now 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 through the SEC website. 1.84% of the stock is currently owned by insiders.

About Synopsys

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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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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