Synopsys (NASDAQ:SNPS) Announces Quarterly Earnings Results

Synopsys (NASDAQ:SNPS) posted its earnings results on Wednesday. The semiconductor company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.56), Zacks reports. Synopsys had a return on equity of 20.48% and a net margin of 36.12%.

Synopsys Stock Up 2.7 %

SNPS stock traded up $12.51 during trading hours on Wednesday, hitting $470.46. The company’s stock had a trading volume of 1,517,599 shares, compared to its average volume of 1,098,591. The company has a market capitalization of $72.72 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The stock has a 50 day moving average price of $508.09 and a two-hundred day moving average price of $516.89. Synopsys has a 12 month low of $457.00 and a 12 month high of $624.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNPS shares. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday. Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.