Synopsys (SNPS): Notes From The Road - RBC
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RBC Capital analyst, Mitch Steves, reiterated his Outperform rating on shares of Synopsys (NASDAQ: SNPS) after holding investor meetings with Trac Pham (CFO) and Nick Taber (IR).
1) the software integrity ramp is continuing to go as planned
2) semiconductor IP should continue to sustain double digit growth
3) M&A and buybacks should remain as the primary use cases for the cash balance
4) strategically the Company will focus on maintaining share and reinvesting into software integrity & semiconductor IP
5) despite semiconductor consolidation, R&D spending and the percentage allocated to EDA should remain stable.
No change to the price target of $66.
Shares of Synopsys closed at $59.48 yesterday.
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