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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 reported impressive Q3 FY 2022 results with revenue reaching $1.248 billion, a significant increase from $1.057 billion in Q3 FY 2021. GAAP earnings per diluted share rose to $1.43, compared to $1.27 last year. Non-GAAP earnings per diluted share reached $2.10, up from $1.81. The company anticipates crossing the $5 billion revenue mark for FY 2022, supported by over 20% revenue growth and strong operating cash flow exceeding $1.6 billion. Synopsys attributes this success to robust demand for complex chips and a resilient business model.
Synopsys (Nasdaq: SNPS) released research by Enterprise Strategy Group revealing that 73% of organizations have enhanced their software supply chain security measures due to recent high-profile attacks like Log4Shell. Key findings indicate 34% of firms experienced exploits from known vulnerabilities in open source software in the past year, highlighting ongoing risks. Additionally, 39% of respondents find compiling Software Bills of Materials (SBOMs) challenging. Nearly all (99%) organizations are using or planning to use open source software, though concerns remain about its scale and security.
Synopsys, Inc. (Nasdaq: SNPS) will report its third-quarter fiscal year 2022 results on August 17, 2022, after market close. A conference call featuring CEO Aart de Geus and CFO Trac Pham will commence at 2:00 p.m. PT (5:00 p.m. ET). Participants can find financial information on the corporate website before the call. A replay will be available post-call until the announcement of the fourth-quarter results in November 2022.
Synopsys (Nasdaq: SNPS) has launched an RF design reference flow and design solutions kit (DSK) to support advanced-node RF designs for 5G/6G applications using Samsung Foundry's 8nm RF low-power FinFET process. The new offerings are aimed at enhancing productivity and speeding design closure. Key features include in-design parasitic analysis and on-chip inductor design, promising faster layout turnaround and improved design quality. This collaboration is expected to meet rising complexities in semiconductor design for high-performance computing and telecommunications.
Synopsys (Nasdaq: SNPS) has announced enhancements to its design, verification, and IP solutions, optimized for Arm's latest Cortex CPUs and GPUs based on the Armv9 architecture. These improvements aim to deliver superior performance and energy efficiency for high-performance computing applications, particularly in mobile devices. The collaboration enables early adopters to meet demanding performance-per-watt targets, leveraging Synopsys technologies including the Digital Design Family and Verification Family. The QuickStart Implementation Kits (QIKs) are now available to streamline time-to-market for developers.
Synopsys (NASDAQ: SNPS) has completed the acquisition of WhiteHat Security for $330 million in cash, enhancing its application security SaaS capabilities. This acquisition adds WhiteHat's dynamic application security testing (DAST) technology to Synopsys’ portfolio, which is among the industry’s broadest. The integration is expected to be neutral to FY2022 non-GAAP earnings per share. Synopsys aims to leverage WhiteHat's expertise to accelerate the development of SaaS-based security testing solutions, reinforcing its mission to improve software security.
Synopsys (Nasdaq: SNPS) launched a new RF design flow in collaboration with Ansys and Keysight for TSMC's advanced N6RF process. This initiative aims to enhance power and performance optimization for 5G chips, improving design productivity. The new flow addresses complex RFIC design challenges, delivering enhanced connectivity, bandwidth, and reduced latency across connected devices. Key components include Synopsys' Custom Compiler, PrimeSim, and tools from Ansys and Keysight, streamlining design processes and mitigating risks of costly re-spins.
Synopsys (Nasdaq: SNPS) announced the certification of its digital and custom design flows for TSMC's N3E and N4P processes, enhancing performance, power, and area (PPA) for next-gen SoCs targeting mobile and high-performance computing applications. Synopsys' Foundation and Interface IP are now available on these advanced processes to facilitate SoC development and reduce design risks. The collaboration with TSMC aims to help customers meet the stringent PPA demands of complex chip designs, with significant innovations in synthesis, verification, and circuit simulation technologies.
On June 1, 2022, Synopsys (Nasdaq: SNPS) launched DesignDash, a new design optimization solution that enhances the electronic design automation (EDA) analytics portfolio. This cloud-optimized tool leverages machine learning to provide real-time insights, facilitating faster decision-making and improved design productivity in system-on-chip (SoC) development. DesignDash allows designers to visualize data, identify trends, and optimize workflows effectively. In a rapidly evolving semiconductor landscape, this innovation addresses increasing design complexity and aims to accelerate time-to-market for customers.
Synopsys, Inc. (Nasdaq: SNPS) announced an accelerated share repurchase agreement with Wells Fargo Bank to repurchase $200 million of its stock. The agreement will result in an initial delivery of approximately 523,000 shares, with final settlement expected by August 15, 2022. This buyback aims to enhance shareholder value and improve earnings per share (EPS). However, the total number of shares repurchased will depend on the average daily volume-weighted share prices during the buyback period, which carries inherent market risks.
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