Synopsys (NASDAQ:SNPS) Issues FY 2022 Earnings Guidance

Posted by on May 25th, 2022

Synopsys (NASDAQ:SNPS – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $8.63-$8.70 for the period, compared to the consensus estimate of $7.90. The company issued revenue guidance of $5.00 billion-$5.05 billion, compared to the consensus revenue estimate of $4.81 billion.Synopsys also updated its Q3 2022 guidance to $2.01-$2.06 EPS.

SNPS stock opened at $296.37 on Wednesday. Synopsys has a 12-month low of $247.87 and a 12-month high of $377.60. The company has a 50 day moving average of $302.43 and a two-hundred day moving average of $319.44. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 3.29 and a beta of 1.21.

Synopsys (NASDAQ:SNPS – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.09. Synopsys had a return on equity of 18.23% and a net margin of 21.19%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $1.24 earnings per share. As a group, analysts expect that Synopsys will post 5.63 EPS for the current fiscal year.

A number of brokerages have recently issued reports on SNPS. StockNews.com cut Synopsys from a strong-buy rating to a buy rating in a research note on Tuesday, May 3rd. Needham & Company LLC lifted their price target on shares of Synopsys from $370.00 to $380.00 and gave the company a buy rating in a research report on Thursday, May 19th. UBS Group reduced their target price on Synopsys to $360.00 and set a hold rating on the stock in a report on Thursday, May 19th. Atlantic Securities cut their price objective on Synopsys to $350.00 and set a na rating on the stock in a report on Thursday, May 19th. Finally, Wells Fargo & Company dropped their price objective on Synopsys from $415.00 to $375.00 and set an overweight rating on the stock in a research note on Thursday, May 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Synopsys has a consensus rating of Buy and a consensus target price of $377.45.

In other Synopsys news, CRO Joseph W. Logan sold 53,706 shares of the stock in a transaction on Friday, May 20th. The stock was sold at an average price of $299.12, for a total value of $16,064,538.72. Following the completion of the transaction, the executive now owns 99,907 shares in the company, valued at $29,884,181.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its stake in shares of Synopsys by 47.1% during the 1st quarter. Neuberger Berman Group LLC now owns 10,368 shares of the semiconductor company’s stock worth $3,466,000 after purchasing an additional 3,322 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Synopsys by 36.8% in the first quarter. The Manufacturers Life Insurance Company now owns 184,199 shares of the semiconductor company’s stock valued at $61,340,000 after buying an additional 49,579 shares during the last quarter. Toroso Investments LLC boosted its position in Synopsys by 13.0% in the 1st quarter. Toroso Investments LLC now owns 5,375 shares of the semiconductor company’s stock valued at $1,791,000 after buying an additional 617 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Synopsys by 15.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 1,071 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 144 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Synopsys by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 99,117 shares of the semiconductor company’s stock valued at $33,033,000 after purchasing an additional 1,148 shares in the last quarter. 84.71% of the stock is currently owned by hedge funds and other institutional investors.

About Synopsys (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that 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.

Featured Stories

Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

Want More Great Investing Ideas?

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.