Welcome to our dedicated page for Synopsys news (Ticker: SNPS), a resource for investors and traders seeking the latest updates and insights on Synopsys stock.
Synopsys Inc. (NASDAQ: SNPS) is a global leader in electronic design automation (EDA) and semiconductor IP. The company is essential for the development of electronic products and software applications that consumers and industries rely on daily. With its extensive portfolio of advanced silicon design, verification products, and software integrity solutions, Synopsys is at the forefront of innovation in the technology sector.
Founded in 1986 and headquartered in Mountain View, California, Synopsys has grown to become the 15th largest software company in the world. It boasts approximately 113 offices spread across North America, South America, Europe, Japan, Asia, and India. The company’s offerings include comprehensive solutions for system-on-chip (SoC) designers and software developers aiming to meet the highest standards in quality and security.
Synopsys recently announced the availability of its Black Duck® Supply Chain Edition, a software composition analysis offering that helps organizations mitigate upstream risks in their software supply chains. This product is a testament to Synopsys's commitment to security and innovation, providing a full range of capabilities to ensure secure and compliant software development.
Another significant milestone is the introduction of Polaris Assist, an AI-powered application security assistant that combines Large Language Model (LLM) technology with Synopsys’s decades of application security knowledge. This tool aids development teams in understanding and resolving security vulnerabilities more effectively.
Synopsys has also announced a strategic collaboration with Samsung Electronics, achieving a major performance milestone in mobile SoC design. Using Synopsys’s AI-driven EDA suite and extensive IP portfolio, Samsung was able to achieve 300MHz higher performance and 10% lower dynamic power in its high-performance mobile SoCs.
Financially, Synopsys continues to show robust performance. For the second quarter of fiscal year 2024, the company reported revenues of $1.455 billion, a significant increase from $1.263 billion in the same quarter the previous year. This growth is driven by strong operational execution, leading technology, and a resilient business model.
Synopsys is also undergoing a strategic shift, divesting its Software Integrity Group to Clearlake Capital Group and Francisco Partners for up to $2.1 billion. This move is expected to sharpen Synopsys’s focus on its core business of silicon design and EDA solutions, aligning with current technological trends such as artificial intelligence and pervasive intelligence.
With its commitment to innovation and a strong financial foundation, Synopsys continues to lead the industry, offering smart, secure solutions for the era of connected devices.
Synopsys, Inc. (Nasdaq: SNPS) will report its first quarter fiscal year 2023 results on February 15, 2023, post-market. A conference call is scheduled for 2:00 p.m. PT to discuss financial results and future outlook. Information for the call will be available on the corporate website prior to the event. A live webcast and replay will also be accessible for participants. The company, a leader in electronic design automation (EDA) and semiconductor IP, continues to provide critical solutions for electronic products and software applications.
Synopsys, Inc. (Nasdaq: SNPS) will present at the Needham Growth Conference on January 12, 2023, at 12:00 p.m. PT / 3:00 p.m. ET. The presentation will be led by Aart de Geus, the company's chairman and CEO. Investors can access a live audio webcast and a replay of the event on the Synopsys corporate website. Synopsys is a leading global provider in electronic design automation (EDA) and semiconductor IP, known for offering a comprehensive range of application security testing tools and services.
Synopsys has announced an accelerated share repurchase agreement with Wells Fargo Bank to repurchase $300 million worth of its stock. This agreement will initially deliver approximately 787,000 shares, with final quantities determined based on the average stock price during the repurchase period. This move aims to enhance shareholder value by reducing the number of outstanding shares and increasing earnings per share (EPS). However, there are risks including dependence on market conditions and share pricing during the buyback.
Synopsys (Nasdaq: SNPS) revealed in a recent report that poor software quality cost the U.S. economy an estimated $2.41 trillion in 2022. The report highlights three key contributors to this issue: a rise in software vulnerabilities, complexities in the software supply chain, and growing technical debt, which now amounts to approximately $1.52 trillion. These factors have led to escalating cybercrime costs, predicted to reach $7 trillion globally in 2022. The report offers actionable strategies to enhance software quality and reduce future costs.
Synopsys, Inc. (Nasdaq: SNPS) reported strong financial results for Q4 and FY 2022, with revenue reaching $1.284 billion for Q4, a 11.4% increase year-over-year. Total revenue for FY 2022 was $5.082 billion, marking a 20.9% growth from FY 2021. GAAP earnings per share for Q4 was $0.99, down from $1.28 in Q4 2021, while FY 2022 GAAP EPS rose to $6.29. For FY 2023, Synopsys targets 14-15% revenue growth and aims for continued margin expansion and 16% EPS growth.
On November 29, 2022, Synopsys (Nasdaq: SNPS) announced the appointment of Shelagh Glaser as the new chief financial officer, effective December 2, 2022. Glaser, who previously held the CFO role at Zendesk, brings extensive experience from her 29 years at Intel. She will replace Trac Pham, who announced his retirement in December 2021. CEO Aart de Geus expressed confidence in Glaser's ability to aid the company’s growth, given her strong financial and operational background.
Synopsys, Inc. (Nasdaq: SNPS) recently released its Software Vulnerability Snapshot report, revealing that 95% of the 4,300 security tests conducted on 2,700 software targets found vulnerabilities. Although overall vulnerabilities decreased by 2%, high-risk vulnerabilities dropped by 10%. Notably, cross-site scripting (XSS) vulnerabilities declined by 6%. Key insights include the discovery of OWASP Top 10 vulnerabilities in 77% of targets, with a 3% decrease in application misconfigurations. There is an urgent need for a software Bill of Materials due to increased reliance on vulnerable third-party libraries.
Synopsys, Inc. (Nasdaq: SNPS) will report its fourth quarter and fiscal year 2022 results on November 30, 2022, after market close. A conference call will follow at 2:00 p.m. PT to discuss financial outcomes and business outlook. Relevant information will be available beforehand on the corporate website, with a live webcast hosted for participants. Replay options will be given post-call through the website and a dial-up service.
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