Needham & Company Reiterates a 'Buy' on Synopsys (SNPS); Strong 3QF11 Results and Guidance As Design Activity Remains Resilient
Tweet
Share
E-mailGet Alerts SNPS Hot Sheet
Price: $421.50 +2.37%
Rating Summary:
25 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
25 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company reiterates a 'Buy' on Synopsys (NASDAQ: SNPS) price target of $33.00.
Needham analyst says, "In 3QF11, SNPS delivered its best quarter of F11—meeting or beating all guidance metrics and (finally) increasing guidance for the year--we think demonstrating the relative resilience of EDA in an obviously challenging macro environment, as well as strong execution. While acknowledging that a sustained slowdown or another recession would eventually have a negative impact on EDA spending, we continue to view SNPS (and EDA in general) as a relatively resilient and defensive way to play the secular growth of semis in mobile, cloud and embedded applications."
"Estimates increased. In line with new guidance, we are increasing F2011 estimates to $1.54B/$1.80 PF EPS from $1.524B/$1.74. F2012 increases to $1.625B/$1.97 from $1.602B/$1.91."
For more ratings news on Synopsys click here and for the rating history of Synopsys click here.
Shares of Synopsys closed at $23.44 yesterday.
Needham analyst says, "In 3QF11, SNPS delivered its best quarter of F11—meeting or beating all guidance metrics and (finally) increasing guidance for the year--we think demonstrating the relative resilience of EDA in an obviously challenging macro environment, as well as strong execution. While acknowledging that a sustained slowdown or another recession would eventually have a negative impact on EDA spending, we continue to view SNPS (and EDA in general) as a relatively resilient and defensive way to play the secular growth of semis in mobile, cloud and embedded applications."
"Estimates increased. In line with new guidance, we are increasing F2011 estimates to $1.54B/$1.80 PF EPS from $1.524B/$1.74. F2012 increases to $1.625B/$1.97 from $1.602B/$1.91."
For more ratings news on Synopsys click here and for the rating history of Synopsys click here.
Shares of Synopsys closed at $23.44 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- NANO Nuclear Announces Participation in Several Investor Conferences
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
