Synopsys (SNPS) reported quarterly earnings results on Wednesday, Aug-17-2016. The company said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.74. The company posted revenue of $615.20 million in the period, compared to analysts expectations of $602.89 million. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
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.
Synopsys opened for trading at $55.85 and hit $56.29 on the upside on Monday, eventually ending the session at $56.06, with a gain of 0.57% or 0.32 points. The heightened volatility saw the trading volume jump to 9,96,243 shares. Company has a market cap of $8,511 M.
In a different news, on Jun 14, 2016, Brian M Beattie (EVP, Business Ops. & CAO) sold 29,300 shares at $52.18 per share price. According to the SEC, on Jun 10, 2016, Alfred Castino (director) sold 5,000 shares at $53.24 per share price. On Jun 3, 2016, John F Jr Runkel (General Counsel &) sold 15,000 shares at $52.34 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.