Synopsys updates Q4 earnings guidance: $3.27-$3.32 EPS, $1.614-$1.644 billion revenue.
Synopsys, a semiconductor company, updated its Q4 earnings guidance, predicting EPS of $3.27-$3.32, compared to the consensus EPS estimate of $3.25. The company also provided revenue guidance of $1.614-$1.644 billion, compared to the consensus revenue estimate of $1.62 billion. Synopsys' FY 2024 guidance is 13.070-13.120 EPS. Insiders Geus Aart De and John F. Runkel, Jr. have sold shares of the company's stock, with total sales amounting to $49,361,263 in the last quarter. Analysts have given the stock a consensus rating of Buy and an average price target of $629. Synopsys' strong Q3 results were attributed to the accelerating complexity and pace of technology innovation, resulting in increased demand for the company's products and services.