Synopsys (NASDAQ:SNPS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.10-1.15 for the period, compared to the Thomson Reuters consensus estimate of $1.01. The company issued revenue guidance of $830-860 million, compared to the consensus revenue estimate of $838.45 million.Synopsys also updated its FY 2019 guidance to $4.52-4.57 EPS.

A number of brokerages have recently issued reports on SNPS. Bank of America reiterated an average rating on shares of Synopsys in a research report on Wednesday, June 5th. KeyCorp upped their target price on shares of Synopsys from $135.00 to $152.00 and gave the stock an overweight rating in a research report on Friday, July 12th. Zacks Investment Research lowered shares of Synopsys from a hold rating to a sell rating and set a $143.00 target price on the stock. in a research report on Wednesday, July 24th. Wells Fargo & Co began coverage on shares of Synopsys in a research report on Tuesday, May 14th. They set an outperform rating and a $135.00 target price on the stock. Finally, BidaskClub lowered shares of Synopsys from a buy rating to a hold rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $128.00.

NASDAQ SNPS traded up $1.88 during trading hours on Wednesday, hitting $131.84. The company’s stock had a trading volume of 1,059,190 shares, compared to its average volume of 1,117,929. The stock has a fifty day moving average of $133.30 and a 200 day moving average of $119.17. Synopsys has a twelve month low of $79.14 and a twelve month high of $138.72. The firm has a market capitalization of $19.76 billion, a P/E ratio of 46.75, a PEG ratio of 3.87 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The business had revenue of $836.20 million for the quarter, compared to analyst estimates of $829.41 million. During the same period in the prior year, the business posted $1.08 earnings per share. Synopsys’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Synopsys will post 3.03 earnings per share for the current year.

In other Synopsys news, CEO Chi-Foon Chan sold 5,105 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $117.15, for a total value of $598,050.75. Following the completion of the sale, the chief executive officer now owns 204,117 shares of the company’s stock, valued at $23,912,306.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Geus Aart De sold 156,100 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $117.15, for a total transaction of $18,287,115.00. Following the completion of the sale, the chairman now directly owns 189,894 shares of the company’s stock, valued at approximately $22,246,082.10. The disclosure for this sale can be found here. Insiders sold 207,180 shares of company stock worth $24,653,559 over the last 90 days. 1.84% of the stock is currently owned by company 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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