Synopsys, Inc. (NASDAQ:SNPS) issued its earnings results on Wednesday. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. Synopsys had a return on equity of 11.51% and a net margin of 11.01%. The business earned $652.80 million during the quarter, compared to analysts’ expectations of $637.73 million. During the same quarter in the prior year, the firm earned $0.68 EPS. Synopsys updated its Q2 guidance to $0.85-0.88 EPS and its FY17 guidance to $3.21-3.26 EPS.
Synopsys (NASDAQ:SNPS) opened at 70.66 on Friday. Synopsys has a one year low of $43.17 and a one year high of $73.08. The firm has a 50-day moving average price of $62.55 and a 200-day moving average price of $59.74. The firm has a market cap of $10.61 billion, a PE ratio of 40.84 and a beta of 0.87.
A number of brokerages have issued reports on SNPS. RBC Capital Markets upped their target price on Synopsys from $66.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday. Needham & Company LLC upped their target price on Synopsys from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research cut Synopsys from a “strong-buy” rating to a “hold” rating in a report on Monday, December 5th. Finally, Benchmark Co. set a $60.00 target price on Synopsys and gave the stock a “hold” rating in a report on Thursday, December 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $68.67.
Institutional investors have recently bought and sold shares of the company. Creative Planning raised its position in Synopsys by 17.2% in the third quarter. Creative Planning now owns 1,884 shares of the company’s stock worth $112,000 after buying an additional 276 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in Synopsys during the fourth quarter worth approximately $114,000. TLP Group LLC bought a new position in Synopsys during the third quarter worth approximately $123,000. Penserra Capital Management LLC raised its position in Synopsys by 100.0% in the third quarter. Penserra Capital Management LLC now owns 2,448 shares of the company’s stock worth $145,000 after buying an additional 1,224 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Synopsys during the fourth quarter worth approximately $150,000. 89.96% of the stock is owned by hedge funds and other institutional investors.
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Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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