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.
On May 25, 2022, Synopsys (Nasdaq: SNPS) announced its top-ranking performance in the 2022 Gartner® Critical Capabilities for Application Security Testing. The report highlights Synopsys receiving the highest scores across five critical use cases: Enterprise, Continuous Testing, Mobile and Client, DevSecOps, and Cloud-Native Applications. This recognition reflects Synopsys' investments in enhancing its security solutions, including features like Rapid Scan capabilities and the acquisition of Code Dx. The company aims to address the growing complexity of software risk management.
On May 25, 2022, Synopsys (Nasdaq: SNPS) announced the appointment of Luis Borgen and Marc Casper to its board of directors. Borgen, former CFO of athenahealth, brings over 25 years of finance expertise, while Casper, CEO of Thermo Fisher, has extensive executive experience. Aart de Geus, chairman and CEO, emphasized their potential to add significant value as Synopsys aims to scale beyond $5 billion. Both appointees expressed enthusiasm about joining the board, highlighting Synopsys' innovative product portfolio and commitment to addressing critical technological challenges.
Synopsys (Nasdaq: SNPS) has partnered with Arrow Electronics, a top value-added distributor, to enhance the distribution of its application security solutions across North America. This agreement aims to broaden the market reach of Synopsys Software Integrity Group's acclaimed security testing portfolio. Synopsys is recognized as a leader in application security, holding multiple accolades from Gartner and Forrester. The collaboration will empower resellers in Arrow's network to offer solutions such as Coverity, Black Duck, and Seeker, facilitating improved software security and compliance.
Synopsys (Nasdaq: SNPS) and Analog Devices, Inc. have partnered to enhance power management modeling through their joint offerings of model libraries for DC/DC ICs and µModule regulators, integrated with Synopsys’ Saber simulation tool. This collaboration aims to facilitate accurate multi-domain simulations for various applications, including electric vehicles and aerospace systems, thus improving design processes and reducing time-to-market.
The latest SaberRD version is currently available for users seeking to leverage these advancements.
Synopsys reported Q2 FY 2022 revenue of $1.279 billion, up from $1.024 billion in Q2 FY 2021. GAAP earnings per diluted share rose to $1.89, while non-GAAP EPS reached $2.50, compared to $1.24 and $1.70 respectively in the previous year.
CEO Aart de Geus noted strong demand and operational execution, leading to a raised revenue growth target of 20% for the fiscal year, exceeding $5 billion. The company aims to expand operating margins and achieve over 25% EPS growth.
Synopsys, Inc. (Nasdaq: SNPS) has announced key presentations for the investment community at upcoming conferences. JP Morgan Global Technology, Media & Communications Conference is set for May 24 at 5:50 a.m. PT, featuring President Sassine Ghazi. The Baird Global Consumer, Technology & Services Conference will follow on June 7 at 8:55 a.m. PT, with GM Jason Schmitt. Live audio webcasts and replays will be available on the Synopsys corporate website after the events.
Synopsys (Nasdaq: SNPS) will report its second quarter fiscal year 2022 results on May 18, 2022, after market close. A conference call led by CEO Aart de Geus and CFO Trac Pham will start at 2:00 p.m. PT. Financial details will be available on their corporate website before the call. A live webcast and replay options will also be accessible. Synopsys, a leader in electronic design automation and semiconductor IP, continues to support innovative electronic and software product development.
Synopsys (NASDAQ: SNPS) has announced its agreement to acquire WhiteHat Security for approximately $330 million in cash. This acquisition aims to enhance Synopsys' application security software-as-a-service (SaaS) capabilities and dynamic application security testing (DAST) technologies. The deal is anticipated to close in Synopsys' fiscal Q3 2022 and is expected to be neutral to FY2022 non-GAAP earnings per share. Both companies share a commitment to integrating security into the software development lifecycle, promising to deliver enhanced value to customers.
Synopsys has been named a Leader in the 2022 Gartner Magic Quadrant for Application Security Testing for the sixth consecutive year. The company ranked highest in both Ability to Execute and Completeness of Vision among 14 evaluated vendors. The report indicates an increasing demand for integrated security testing solutions that align with DevSecOps and cloud-native applications. Synopsys has made significant investments in enhancing its security solutions, including new capabilities for Coverity and Black Duck and the acquisition of Code Dx.
Synopsys has launched the DesignWare ARC NPX6 NPU IP, achieving up to 3,500 TOPS performance, catering to automotive, consumer, and data center applications. This technology boasts an efficiency of 30 TOPS/Watt, with features like 96K MACs and scalability options. The launch includes the MetaWare MX Development Toolkit, which optimizes neural network models. The ARC NPX6FS variant meets ISO 26262 safety standards, enabling safer automotive SoC development. Together, these innovations aim to enhance AI functionalities in increasingly complex applications.
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