Synopsys, Inc. (NASDAQ:SNPS – Get Rating) – Analysts at Zacks Research raised their Q1 2024 EPS estimates for Synopsys in a research report issued on Wednesday, June 21st. Zacks Research analyst A. Bhagat now expects that the semiconductor company will post earnings of $1.93 per share for the quarter, up from their previous forecast of $1.89. The consensus estimate for Synopsys’ current full-year earnings is $7.52 per share. Zacks Research also issued estimates for Synopsys’ Q4 2024 earnings at $2.40 EPS.
SNPS has been the subject of a number of other research reports. StockNews.com started coverage on shares of Synopsys in a report on Thursday, May 18th. They issued a “buy” rating for the company. Rosenblatt Securities lifted their price target on shares of Synopsys from $420.00 to $448.00 in a research report on Thursday, May 18th. Robert W. Baird upped their price target on Synopsys from $445.00 to $447.00 in a report on Thursday, May 18th. Finally, Wells Fargo & Company lifted their price objective on Synopsys from $410.00 to $420.00 in a report on Thursday, May 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $434.70.
Synopsys Stock Performance
Synopsys (NASDAQ:SNPS – Get Rating) last released its earnings results on Wednesday, May 17th. The semiconductor company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.07. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Synopsys had a return on equity of 16.29% and a net margin of 17.41%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SNPS. Freedom Wealth Alliance LLC acquired a new stake in Synopsys during the 4th quarter worth approximately $26,000. VitalStone Financial LLC purchased a new position in shares of Synopsys in the 1st quarter valued at $30,000. Ancora Advisors LLC acquired a new position in shares of Synopsys during the 4th quarter valued at $30,000. HHM Wealth Advisors LLC purchased a new stake in Synopsys during the 1st quarter worth $31,000. Finally, Kistler Tiffany Companies LLC acquired a new stake in Synopsys in the 4th quarter valued at $32,000. 85.44% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider John F. Runkel, Jr. sold 1,831 shares of Synopsys stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $455.00, for a total transaction of $833,105.00. Following the completion of the sale, the insider now owns 24,697 shares in the company, valued at approximately $11,237,135. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 1,831 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $455.00, for a total value of $833,105.00. Following the completion of the transaction, the insider now directly owns 24,697 shares in the company, valued at approximately $11,237,135. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Geus Aart De sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $445.42, for a total value of $17,816,800.00. Following the sale, the chief executive officer now owns 94,421 shares in the company, valued at approximately $42,057,001.82. The disclosure for this sale can be found here. Insiders have sold 141,964 shares of company stock worth $62,350,058 over the last three months. 0.69% of the stock is currently owned by corporate insiders.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
Featured Articles
- Get a free research report on Synopsys from StockNews.com
- CarMax Stock Flying On Earnings Beat, Return Of The Highs?
- Commercial Metals Company Shakes Off The Rust: Confirms Uptrend
- Smith & Wesson, A Timeless Value Play At Decade Lows
- Wayfair: From Steep Decline to Recent Surge
- Five stocks we like better than Synopsys
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.
