News coverage about Synopsys (NASDAQ:SNPS) has been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Synopsys earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave headlines about the semiconductor company an impact score of 46.5856200510442 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the headlines that may have effected Accern Sentiment’s analysis:
- $690.41 Million in Sales Expected for Synopsys, Inc. (NASDAQ:SNPS) This Quarter (americanbankingnews.com)
- Renaissance Technologies LLC Significantly Raises Its Investment in Continental Resources, Inc. (CLR) (expressnewsline.com)
- Bank of Montreal Can Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS) (vothemes.com)
- Synopsys Inc Shares Up 22.4% Since SmarTrend’s Buy Recommendation (SNPS) (mysmartrend.com)
- See what the IHS Markit Score report has to say about Synopsys Inc. (finance.yahoo.com)
Shares of Synopsys (SNPS) traded up 0.82% on Friday, hitting $76.27. 591,969 shares of the company’s stock were exchanged. The firm has a market cap of $11.46 billion, a P/E ratio of 42.61 and a beta of 1.02. Synopsys has a 12 month low of $55.44 and a 12 month high of $77.55. The stock’s 50 day moving average is $75.20 and its 200 day moving average is $72.33.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The company had revenue of $680.07 million during the quarter, compared to analysts’ expectations of $672.40 million. During the same quarter in the previous year, the company earned $0.81 earnings per share. Synopsys’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts predict that Synopsys will post $3.28 earnings per share for the current year.
Synopsys declared that its board has approved a share buyback program on Friday, June 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
SNPS has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $76.00 price target on shares of Synopsys in a research note on Monday, April 17th. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. BidaskClub lowered shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Bank of America Corporation reiterated a “buy” rating and issued a $87.00 price target (up previously from $80.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, DA Davidson reiterated a “buy” rating and issued a $85.00 price target (up previously from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Synopsys has a consensus rating of “Buy” and a consensus target price of $75.78.
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In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the general counsel now owns 18,239 shares of the company’s stock, valued at approximately $1,294,969. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Schwarz sold 21,496 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $71.20, for a total transaction of $1,530,515.20. Following the completion of the transaction, the director now directly owns 19,324 shares of the company’s stock, valued at approximately $1,375,868.80. The disclosure for this sale can be found here. In the last three months, insiders sold 304,246 shares of company stock valued at $21,608,505. Corporate insiders own 1.82% of the company’s stock.
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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