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.

A number of equities analysts have weighed in on SNPS shares. BidaskClub lowered Synopsys from a strong-buy rating to a buy rating in a research note on Wednesday. DA Davidson lifted their price objective on Synopsys to $135.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Needham & Company LLC reiterated a buy rating and set a $120.00 price objective on shares of Synopsys in a research note on Wednesday, April 3rd. Wells Fargo & Co started coverage on Synopsys in a research note on Tuesday, May 14th. They set an outperform rating and a $135.00 price objective for the company. Finally, KeyCorp started coverage on Synopsys in a research note on Wednesday, April 10th. They set an overweight rating and a $135.00 price objective for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $121.10.

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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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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