Synopsys (SNPS) was Initiated by Credit Suisse to “Outperform” and the brokerage firm has set the Price Target at $68. Credit Suisse advised their investors in a research report released on Oct 19, 2016.
Many Wall Street Analysts have commented on Synopsys. Company shares were Reiterated by DA Davidson on Aug 18, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .Company shares were Reiterated by Needham on Aug 18, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $54 .Company shares were Reiterated by The Benchmark Company on Aug 18, 2016 to “Hold”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .
On the company’s financial health, Synopsys reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.74. The company had revenue of $615.20 million for the quarter, 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.
Synopsys opened for trading at $59.85 and hit $60.58 on the upside on Friday, eventually ending the session at $59.75, with a gain of 0.45% or 0.27 points. The heightened volatility saw the trading volume jump to 8,99,049 shares. Company has a market cap of $9,042 M.
In a different news, on Sep 13, 2016, Alfred Castino (director) sold 10,000 shares at $58.44 per share price. According to the SEC, on Sep 1, 2016, Brian M Beattie (EVP, Business Ops. & CAO) sold 63,125 shares at $59.19 per share price. On Aug 24, 2016, John F Jr Runkel (General Counsel &) sold 10,000 shares at $58.87 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.