Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Synopsys (SNPS) Share Price
Media headlines about Synopsys (NASDAQ:SNPS) have been trending somewhat positive this week, according to Accern. Accern rates the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Synopsys earned a news impact score of 0.09 on Accern’s scale. Accern also gave press coverage about the semiconductor company an impact score of 46.1919437805362 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s rankings:
- Synopsys, Inc. (SNPS) Upgraded to “Buy” by Zacks Investment Research (americanbankingnews.com)
- Synopsys, Inc. (SNPS) Stock Rating Lowered by Zacks Investment Research (americanbankingnews.com)
- Synopsys (SNPS) Announces Acquisition of QuantumWise – StreetInsider.com (streetinsider.com)
- Buy Technology Stock analysis: Synopsys, Inc. (SNPS) – Street Observer (press release) (streetobserver.com)
- Synopsys Design Platform Certified by GLOBALFOUNDRIES for 22nm FD-SOI Process Technology – PR Newswire (press release) (prnewswire.com)
Shares of Synopsys (NASDAQ SNPS) opened at 80.36 on Friday. Synopsys has a 52 week low of $56.03 and a 52 week high of $81.57. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 37.73 and a beta of 0.99. The stock has a 50 day moving average price of $78.47 and a 200-day moving average price of $74.70.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The business had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, analysts anticipate that Synopsys will post $3.31 EPS for the current year.
Synopsys announced that its board has authorized a share repurchase program on Friday, June 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
SNPS has been the topic of several research analyst reports. Credit Suisse Group reissued an “outperform” rating on shares of Synopsys in a report on Thursday, August 31st. HSBC Holdings plc reissued an “average” rating on shares of Synopsys in a report on Thursday, September 14th. Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada raised their price objective on Synopsys from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Finally, BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Synopsys has an average rating of “Buy” and a consensus price target of $83.88.
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In related news, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the sale, the chief executive officer now owns 200,429 shares in the company, valued at approximately $15,533,247.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total value of $384,950.00. Following the completion of the sale, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. Corporate insiders own 1.82% of the company’s stock.
Synopsys Company Profile
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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