Synopsys (NASDAQ:SNPS) Issues Q3 2022 Earnings Guidance

Synopsys (NASDAQ:SNPSGet Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.01-$2.06 for the period, compared to the consensus estimate of $1.61. The company issued revenue guidance of $1.21 billion-$1.24 billion, compared to the consensus revenue estimate of $1.14 billion.Synopsys also updated its FY 2022 guidance to $8.63-$8.70 EPS.

SNPS stock opened at $296.37 on Wednesday. Synopsys has a one year low of $247.87 and a one year high of $377.60. The company has a fifty day moving average of $302.43 and a 200-day moving average of $319.44. The stock has a market capitalization of $45.37 billion, a PE ratio of 46.09, a price-to-earnings-growth ratio of 3.29 and a beta of 1.21.

Synopsys (NASDAQ:SNPSGet Rating) last released its earnings results on Wednesday, May 18th. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Synopsys had a return on equity of 18.23% and a net margin of 21.19%. During the same quarter in the previous year, the firm posted $1.24 EPS. Equities research analysts forecast that Synopsys will post 5.63 earnings per share for the current year.

A number of research firms have recently weighed in on SNPS. Wells Fargo & Company lowered their price target on shares of Synopsys from $415.00 to $375.00 and set an overweight rating on the stock in a research note on Thursday, May 19th. Atlantic Securities reduced their price target on shares of Synopsys to $350.00 and set a na rating for the company in a research report on Thursday, May 19th. UBS Group lowered their price target on Synopsys to $360.00 and set a hold rating on the stock in a report on Thursday, May 19th. StockNews.com cut Synopsys from a strong-buy rating to a buy rating in a report on Tuesday, May 3rd. Finally, Needham & Company LLC increased 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has an average rating of Buy and an average target price of $377.45.

In other news, CRO Joseph W. Logan sold 53,706 shares of Synopsys stock in a transaction dated 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 transaction, the executive now directly owns 99,907 shares of the company’s stock, valued at approximately $29,884,181.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its position in Synopsys by 15.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 1,071 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 144 shares during the period. qPULA Trading Management LP acquired a new position in shares of Synopsys during the first quarter worth about $356,000. Forum Financial Management LP purchased a new stake in shares of Synopsys in the fourth quarter worth about $340,000. KC Investment Advisors LLC raised its holdings in shares of Synopsys by 7.2% during the 1st quarter. KC Investment Advisors LLC now owns 968 shares of the semiconductor company’s stock valued at $323,000 after buying an additional 65 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in Synopsys by 19.8% during the 1st quarter. Evergreen Capital Management LLC now owns 962 shares of the semiconductor company’s stock worth $321,000 after acquiring an additional 159 shares in the last quarter. 84.71% of the stock is owned by 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.

See Also

Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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