Brokerages expect Synopsys, Inc. (NASDAQ:SNPS) to post $690.41 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Synopsys’ earnings, with estimates ranging from $685.30 million to $693.50 million. Synopsys posted sales of $615.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 16th.

On average, analysts expect that Synopsys will report full-year sales of $690.41 million for the current year, with estimates ranging from $2.66 billion to $2.67 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.79 billion per share, with estimates ranging from $2.77 billion to $2.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Synopsys.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. The company had revenue of $680.07 million during the quarter, compared to the consensus estimate of $672.40 million. Synopsys had a return on equity of 11.16% and a net margin of 10.74%. Synopsys’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.

Several equities research analysts have recently issued reports on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Synopsys in a research note on Monday, April 17th. Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Bank of America Corporation reaffirmed a “buy” rating and issued a $87.00 price objective (up from $80.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective (up from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $75.78.

In other news, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $70.96, for a total value of $266,100.00. Following the sale, the chief executive officer now directly owns 204,179 shares in the company, valued at $14,488,541.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $71.05, for a total value of $355,250.00. Following the completion of the sale, the executive vice president now owns 68,793 shares in the company, valued at $4,887,742.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,246 shares of company stock worth $21,608,505. Company insiders own 1.82% of the company’s stock.

Several large investors have recently modified their holdings of SNPS. Vanguard Group Inc. increased its stake in shares of Synopsys by 3.1% in the second quarter. Vanguard Group Inc. now owns 15,500,829 shares of the semiconductor company’s stock valued at $1,130,474,000 after buying an additional 469,622 shares during the last quarter. BlackRock Inc. increased its stake in shares of Synopsys by 3,273.6% in the first quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock valued at $922,991,000 after buying an additional 12,416,921 shares during the last quarter. State Street Corp increased its stake in shares of Synopsys by 19.9% in the first quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock valued at $522,251,000 after buying an additional 1,201,269 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Synopsys by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock valued at $311,973,000 after buying an additional 125,190 shares during the last quarter. Finally, Swedbank increased its stake in shares of Synopsys by 10.4% in the second quarter. Swedbank now owns 2,082,579 shares of the semiconductor company’s stock valued at $151,882,000 after buying an additional 195,582 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Shares of Synopsys (NASDAQ SNPS) opened at 76.27 on Friday. The company has a 50-day moving average price of $75.20 and a 200-day moving average price of $72.33. Synopsys has a 52-week low of $55.44 and a 52-week high of $77.55. The company has a market cap of $11.46 billion, a P/E ratio of 42.61 and a beta of 1.02.

Synopsys announced that its Board of Directors has authorized a stock repurchase program on Friday, June 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

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