Synopsys, Inc. (NASDAQ:SNPS) – Investment analysts at Griffin Securities dropped their FY2020 EPS estimates for shares of Synopsys in a report released on Wednesday. Griffin Securities analyst J. Vleeschhouwer now forecasts that the semiconductor company will post earnings of $3.18 per share for the year, down from their prior estimate of $3.19.
A number of other analysts also recently issued reports on SNPS. BidaskClub downgraded Synopsys from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. DA Davidson reiterated a “buy” rating and set a $105.00 target price (up previously from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Needham & Company LLC lifted their target price on Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. TheStreet cut Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Finally, KeyCorp reiterated an “overweight” rating and set a $106.00 target price (up previously from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $96.89.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The company had revenue of $696.60 million during the quarter, compared to the consensus estimate of $650.72 million. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. Synopsys’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS.
In other news, Director Chrysostomos L. Nikias sold 21,073 shares of Synopsys stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $85.88, for a total transaction of $1,809,749.24. Following the sale, the director now owns 32,466 shares in the company, valued at $2,788,180.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Walske sold 4,545 shares of Synopsys stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $90.12, for a total value of $409,595.40. Following the sale, the director now owns 14,988 shares in the company, valued at approximately $1,350,718.56. The disclosure for this sale can be found here. Insiders have sold 65,442 shares of company stock worth $5,779,693 in the last quarter. Insiders own 1.82% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Swiss National Bank increased its position in Synopsys by 0.9% in the 3rd quarter. Swiss National Bank now owns 778,236 shares of the semiconductor company’s stock valued at $62,671,000 after acquiring an additional 7,200 shares during the period. Sei Investments Co. increased its position in Synopsys by 17.8% in the 3rd quarter. Sei Investments Co. now owns 210,933 shares of the semiconductor company’s stock valued at $16,986,000 after acquiring an additional 31,801 shares during the period. ING Groep NV increased its position in Synopsys by 68.5% in the 3rd quarter. ING Groep NV now owns 12,984 shares of the semiconductor company’s stock valued at $1,046,000 after acquiring an additional 5,277 shares during the period. Oribel Capital Management LP increased its position in Synopsys by 340.6% in the 3rd quarter. Oribel Capital Management LP now owns 174,900 shares of the semiconductor company’s stock valued at $14,084,000 after acquiring an additional 135,200 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new position in Synopsys in the 3rd quarter valued at about $701,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.
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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