Needham & Company Raises Price Target on Synopsys (SNPS) to $60 Following 3Q

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Go back to Needham & Company Raises Price Target on Synopsys (SNPS) to $60 Following 3Q

Synopsys Posts Financial Results for Third Quarter Fiscal Year 2016

August 17, 2016 4:05 PM EDT

MOUNTAIN VIEW, Calif., Aug. 17, 2016 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its third quarter of fiscal year 2016.

For the third quarter of fiscal year 2016, Synopsys reported revenue of $615.2 million, compared to $555.8 million for the third quarter of fiscal 2015, an increase of 10.7 percent.  

"In our fiscal third quarter, we again delivered strong results across the board and are raising our annual revenue, non-GAAP earnings per share, and operating cash flow targets," said Aart de Geus, chairman and co-CEO of Synopsys.  "While semiconductor consolidation has continued,... More