Synopsys (NASDAQ:SNPS) issues Q4 2024 earnings guidance

Synopsys (NASDAQ:SNPS – Get Your Free Report ) issued an update on its earnings guidance for the fourth quarter of 2024 on Wednesday morning. The company provided an EPS estimate of 3,270-3,320 for the period, compared to with the consensus estimate of 3,230. The company issued a revenue estimate of $1.6 billion – $1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Synopsys also upgraded its FY 2024 guidance to 13,070-13,120 EPS.

Analyst upgrades and downgrades

Several research firms have commented on SNPS. Needham & Company LLC reissued a buy rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday. Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the stock an outperform rating in a report on Thursday. Rosenblatt Securities boosted their price objective on Synopsys from $615.00 to $635.00 and gave the company a buy rating in a research note on Thursday, August 15th. KeyCorp upped their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an overweight rating in a report on Thursday, June 27th. Finally, Piper Sandler restated an overweight rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday. Eleven investment analysts have rated the stock with a buy rating. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $627.36.

Check out the latest stock report on Synopsys

Synopsys price performance

NASDAQ SNPS traded up $1.32 during trading on Thursday, reaching $566.00. The company’s stock had a trading volume of 182,066 shares, compared to its average volume of 1,058,133. The firm has a fifty day moving average of $572.65 and a 200 day moving average of $566.66. Synopsys has a one year low of $434.14 and a one year high of $629.38. The stock has a market cap of $86.72 billion, a PE ratio of 61.38, a P/E/G ratio of 3.58 and a beta of 1.07.

Synopsys (NASDAQ:SNPS – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. In the same quarter last year, the company posted earnings of $1.76 per share. The company’s revenue for the quarter was up 15.2% year-over-year. research analysts expect that Synopsys will post 9.55 earnings per share for the current fiscal year.

Indoor activity

In related news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other Synopsys news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,363 shares of company stock valued at $49,361,263. 0.66% of shares are currently owned by corporate insiders.

About Synopsys

(Get a free report)

Synopsys, Inc provides electronic design automation software products used for the design and test of integrated circuits. It operates in three segments: Design Automation, Design IP and Software Integrity. The company offers digital and custom IC design solutions that provide digital design implementation solutions; Verification solution providing virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping and debugging solutions; and FPGA design products that are programmed to perform specific functions.

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