Synopsys (SNPS) Releases Q3 Earnings Guidance
Synopsys (NASDAQ:SNPS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.07-1.12 for the period, compared to the Thomson Reuters consensus estimate of $1.06. The company issued revenue guidance of $810-850 million, compared to the consensus revenue estimate of $828.85 million.Synopsys also updated its FY 2019 guidance to $4.24-4.40 EPS.
SNPS traded down $0.69 on Wednesday, reaching $115.09. 2,280,780 shares of the stock were exchanged, compared to its average volume of 1,119,203. Synopsys has a fifty-two week low of $79.14 and a fifty-two week high of $124.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.89. The stock has a market cap of $17.33 billion, a P/E ratio of 40.81, a P/E/G ratio of 3.83 and a beta of 1.30.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.51. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. The company had revenue of $820.40 million during the quarter, compared to analysts’ expectations of $796.30 million. During the same quarter in the previous year, the firm posted $1.10 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that Synopsys will post 3.17 EPS for the current fiscal year.
In related news, VP Sudhindra Kankanwadi sold 2,085 shares of Synopsys stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $102.71, for a total value of $214,150.35. Following the completion of the transaction, the vice president now owns 10,387 shares in the company, valued at approximately $1,066,848.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 85,105 shares of Synopsys stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $102.20, for a total value of $8,697,731.00. Following the completion of the transaction, the chief executive officer now owns 294,218 shares of the company’s stock, valued at approximately $30,069,079.60. The disclosure for this sale can be found here. Insiders have sold a total of 142,190 shares of company stock valued at $14,729,218 in the last quarter. Company insiders own 1.84% of the company’s stock.
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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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