Notable News to Watch: Synopsys (NASDAQ:SNPS)

Synopsys (NASDAQ:SNPS) stock observed trading -4.96% off 52-week high price. On the other end, the stock has been noted 66.59% away from low price over the last 52-weeks. The stock disclosed a move of 0.43% away from 50 day moving average and 20.20% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.54% off 20-day moving average. It has market cap of $19738.03M.

On Aug.21, 2019, Synopsys (NASDAQ:SNPS) notified results for its third quarter of fiscal year 2019. Revenue was $853.0 million, compared to $779.7 million for the third quarter of fiscal year 2018, an increase of 9.4 percent.

Synopsys continues to execute very well and delivered excellent third fiscal quarter revenue, operating margin, non-GAAP earnings and cash flow. In Q3, we also implemented a $100 million share repurchase, bringing our total for the year to $229 million, said Aart de Geus, chairman and co-CEO of Synopsys. Despite the uncertain geopolitical and economic backdrop, global design activity and customer engagements are thriving. Our product platforms are the strongest they’ve ever been, driving technology wins and competitive displacements. As a result of our year-to-date overachievement and broad-based strength across the business, we’re raising our annual guidance ranges.

GAAP Results

On a generally accepted accounting principles (GAAP) basis, net income for the third quarter of fiscal 2019 was $99.9 million, or $0.65 per share, compared to $79.4 million, or $0.52 per share, for the third quarter of fiscal 2018.

Non-GAAP Results

For the third quarter of fiscal 2019, on a non-GAAP basis, net income was $182.5 million, or $1.18 per share, compared to non-GAAP net income of $145.6 million, or $0.95 per share, for the third quarter of fiscal 2018.

For a reconciliation between GAAP and non-GAAP results, see GAAP to Non-GAAP Reconciliation and the accompanying tables below.

Business Segments

Effective in fiscal year 2019, Synopsys reports revenue and operating income in two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products,system integration solutions and associated services, and (2) Software Integrity, which includes security and quality solutions for software development across many industries. Further information regarding these segments is provided at the end of this press release.

The USA based company Synopsys moved with change of 1.45% to $131.84 with the total traded volume of 1226799 shares in recent session versus to an average volume of 1144.72K. The stock was observed in the 5 days activity at 4.05%. The one month performance of stock was -3.17%. SNPS’s shares are at 14.55% for the quarter and driving a 40.93% return over the course of the past year and is now at 56.51% since this point in 2018.  Right now the stock beta is 1.25. The average volatility for the week and month was at 1.62% and 2.31% respectively. There are 149.71M shares outstanding and 148.93M shares are floated in market.

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