:max_bytes(150000):strip_icc()/GettyImages-1239963402-23da3f26c6384a86a13e952caa0f2f55.jpg?w=1500&resize=1500,1000&ssl=1 "Synopsys Stock Is the S&P 500’s Worst Performer Today | Global News Avenue")
Synopsys Stock Is the S&P 500’s Worst Performer Today
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1239963402-23da3f26c6384a86a13e952caa0f2f55.jpg)
Main points
- Synopsys shares fell more than the rest of the S&P 500 on Thursday after the company reported fiscal fourth-quarter results.
- The chip design software maker’s fiscal 2025 outlook is below the analyst consensus compiled by Visible Alpha.
- The company’s shares are essentially flat this year.
Synopsys (SNPSShares of the chip design software maker tumbled late Wednesday after it issued a disappointing forecast for the next fiscal year.
The company forecast full-year revenue of $6.75 billion to $6.81 billion, below analysts’ expectations of about $6.9 billion for Visible Alpha. it is Earnings per share (EPS) The forecast of $10.42 to $10.63 is well below the consensus of around $11.20.
Synopsys stock led all components of the S&P 500 lower Thursday, falling more than 10% during the session. Synopsys’ declines have been roughly flat so far this year.
Synopsys’ fourth-quarter revenue was US$1.64 billion, a year-on-year increase of 11%, slightly higher than expected. Earnings per share were $7.14, up from $2.26 a year earlier and above analysts’ average estimate.
The company said it plans to $35 billion acquisition Simulation software company Ansys (autonomous navigation system) is expected to be completed in the first half of 2025. Ansys shares have fallen about 5% recently.
:max_bytes(150000):strip_icc()/GettyImages-1239963402-23da3f26c6384a86a13e952caa0f2f55.jpg?w=1200&resize=1200,0&ssl=1&description=Synopsys+Stock+Is+the+S%26P+500%E2%80%99s+Worst+Performer+Today+%7C+Global+News+Avenue){kind=link}