Synopsys (SNPS) is Initiated by RBC Capital Mkts to Outperform, Price Target at $64

Synopsys (SNPS) was Initiated by RBC Capital Mkts to “Outperform” and the brokerage firm has set the Price Target at $64. RBC Capital Mkts advised their investors in a research report released on Jun 6, 2016.

Many Wall Street Analysts have commented on Synopsys. RBC Capital Mkts Initiated Synopsys on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $64.

On the company’s financial health, Synopsys reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.79. The company had revenue of $605.01 million for the quarter, compared to analysts expectations of $601.92 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Synopsys closed down -0.37 points or -0.71% at $52.03 with 5,95,615 shares getting traded on Friday. Post opening the session at $52.2, the shares hit an intraday low of $51.7608 and an intraday high of $52.35 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 3, 2016, John F Jr Runkel (General Counsel &) sold 15,000 shares at $52.34 per share price. According to the SEC, on May 27, 2016, Deborah A Coleman (director) sold 2,000 shares at $51.64 per share price. On May 20, 2016, Chi-foon Chan (Co-CEO & President) sold 2,000 shares at $49.65 per share price, according to the Form-4 filing with the securities and exchange commission.

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. It provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. It provides technical services to support its solutions and help its customers develop chips and electronic systems. It is also a provider of software tools that developers use to develop software code in a range of industries including electronics financial services energy and industrials. It offers products and services in four categories: core EDA; IP Systems and Software Integrity; Manufacturing Solutions and Professional Services and Other.


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