Synopsys (NASDAQ:SNPS – Get Rating) is set to release its earnings data after the market closes on Wednesday, November 30th. Analysts expect Synopsys to post earnings of $1.84 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Synopsys Price Performance
SNPS stock opened at $326.96 on Wednesday. The firm has a 50 day simple moving average of $304.21 and a two-hundred day simple moving average of $318.39. Synopsys has a one year low of $255.02 and a one year high of $391.17. The stock has a market cap of $50.00 billion, a PE ratio of 49.61, a P/E/G ratio of 2.82 and a beta of 1.18.
Synopsys declared that its board has approved a share repurchase plan on Thursday, September 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Institutional Investors Weigh In On Synopsys
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SNPS. Stifel Nicolaus assumed coverage on shares of Synopsys in a report on Wednesday, September 7th. They issued a “buy” rating and a $445.00 price objective on the stock. Robert W. Baird upped their price target on shares of Synopsys from $409.00 to $444.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. KeyCorp lifted their price target on shares of Synopsys from $445.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Wells Fargo & Company decreased their target price on shares of Synopsys from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC upped their target price on Synopsys from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $404.54.
Synopsys Company Profile
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.
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