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Synopsys Posts Financial Results for Q2 Fiscal Year 2024Synopsys ( NASDAQ:SNPS ) has raised its annual revenue and profit forecast due to the robust demand for its software to design advanced chips driving artificial intelligence applications. The AI boom has boosted investments in custom design of chips as tech firms race to dominate the lucrative technology with new innovations, triggering demand for companies such as Synopsys. Chief Executive Sassine Ghazi said demand for the company's core products remained strong, with revenue from them expected to grow 15% this year as customers design their own chips for AI and other purposes. Semiconductor firms continue to invest in research and design and turn to the company's AI-powered electronic design automation suite, Synopsys.ai, in a bid to ace and improve complex chip designs. Synopsys ( NASDAQ:SNPS ) now expects annual adjusted earnings per share between $12.90 and $12.98 from its earlier forecast of $12.86 and $12.94. The company updated its annual expectations on its investor day in March, excluding its software integrity (SIG) unit. Earlier this month, the company said it would sell the SIG unit to a private-equity group led by Clearlake Capital and Francisco Partners in a $2.1 billion deal. Synopsys ( NASDAQ:SNPS ) forecast third-quarter revenue between $1.51 billion and $1.54 billion, below analysts' average estimate of $1.60 billion, according to LSEG data. Revenue in the second-quarter ended April 30 rose about 15% to $1.45 billion, but fell short of estimates of $1.53 billion. Excluding items, it earned $3.00 per share, beating estimates of $2.95 per share. In January, Synopsys ( NASDAQ:SNPS ), which partners with chipmakers including Taiwan Semiconductor Manufacturing Co, Intel (INTC.O), and Samsung Electronics, said it would buy Ansys (ANSS.O) in a $35 billion cash-and-stock deal. Separately, Ansys said on Wednesday that its stockholders approved its proposed acquisition by Synopsys. Synopsys ( NASDAQ:SNPS ) reported Q2 financial results for the second quarter of fiscal year 2024, with quarterly revenue of $1.455 billion, up approximately 15% year over year and at the high-end of guidance. Quarterly GAAP earnings per diluted share of $1.92; non-GAAP earnings per diluted share of $3.00, up approximately 26% year over year1 and exceeding guidance. Synopsys' strong Q2 results were driven by its team's relentless focus on execution, leading technology that is mission-critical to customers, and resilient business model. The company is again raising its full-year targets for revenue and non-GAAP EPS, based on strong execution and continued business momentum. Technical Outlook Synopsys ( NASDAQ:SNPS ) stock closed Thursday's trading session with a Relative Strength Index (RSI) of 60.27 which is slightly overbought. The stock has been on a rising trend since the fall of November, 2023 consecutively rising to new highs.
NASDAQ:SNPS
by DEXWireNews
SNPS Entry, Volume, Target, StopEntry: with price above 468.03 Volume: with volume greater than 2.69M Target: 511 area Stop: Depending on your risk tolerance; Based on an entry of 453.70, 232.84 gets you 3/1 Reward to Risk Ratio. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:SNPSLong
by tradepatiently
1
SNPS Entry, Volume, Target, StopEntry: when price clears 468.03 Volume: with daily volume greater than 2.7M Target: 511 area Stop: Depending on your risk tolerance; 453.70 gets you 3/1 Risk/Reward. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:SNPSLong
by tradepatiently
Signals for 17/07/2020Signals 17/07/2020 Hi Guys, we were away for a while, but we’re back with some signals EURUSD – the price is trying to hold above 1.14030, if it manages, long with a target at 1.15. If it impulses below, short at a pullback with a target 1.134 XAUUSD – The price is trying to hold above 1795, I recommend a long with a target at 1900 MSFT – I expect a pullback to 197, reversal model (false breakout OR bounce), followed by an up move, target at 215 SNPS – I recommend a long with a target at 203 CRM – the price tried for a false breakout of 184, either that works out, in which case enter with a target at 202, but what might happen is a drop to 171, in which case wait for a reversal model and then long with targets at 184 and 202 GD – I expect a pullback to 144, a reversal model, and then an up move. Long with a target at 156. Right, that’s about it, I hope you found this useful, have a good one.
NYSE:GD
by Horizon_Trading
Covid crisis and S&P500The previous resistance at 2635 was broken after 3 attempts and now, forming the new support line at that level. New resistance is currently at 2810 and has been tested twice. Look like it might head down a little before trying the resistance again. The stock market continued to rise last week, even as Labor Department data continued to show signs of high unemployment level. The most straightforward reading of the mismatch between the stock market and the labor market data is that Congress did a much better job preserving the value of capital owners’ investments than of saving jobs. Another reason might be that investors have gotten very optimistic. It’s true that intense restrictions on activity seem to be effectively slowing the spread of the virus. And it’s true that the Italian and Spanish experiences suggest that means that we could be seeing declining deaths and case volumes by the end of April.
CME_MINI:ES1!
by Trader_hao
QE release, long SnPAs requested by many to take a look at equities market, i shall do some basic analysis from now on on the shares market in US and globally. Equities Market just surged for futures of S&P500 because the Federal Reserve Unveils Unlimited QE Amid All-In Effort to Confront 'Severe Coronavirus Disruptions'. I think this is the first time its ever done an unlimited QE and this could help revive the economy. Its gonna be a massive bailout. The Fed will buy unlimited amounts of Treasury bonds, and purchase corporate and municipal debt for the first time, in an historic effort to defend the U.S. economy from 'severe" conoravirus distruptions.
CME_MINI:ES1!Long
by Trader_hao
Short on S&P500 but long term buy opportunity afterThe S&P 500 index is a benchmark of American stock market performance, dating back to the 1920s. The index has returned a historic annualized average return of around 10% since its inception through 2019 and thats a good representation of the market. Compared to fixed deposits, yearly returns ranges from 0.5%-2%. While that average number of 10% may sound attractive, timing is everything - get in at a high or out at a relative low and you will not enjoy such returns. Inflation is around 3.15% yearly so the actual returns is only at around 6-7%. That said, its still better than parking your money in the bank and gaining that 0.05% interest. So thats why its important to time the market and enter at the right time. If you had just entered into the stock market 1 month ago, your probably would have lost 30% of your funds that you use to enter.
TVC:SPXShort
by Trader_hao
$SNPS Trading At Key SupportWe know it's hard to pick stocks in the current environment, but there are some bargains to be had. One worth playing is $SNPS. $SNPS has strong support around the $132 level. The company is out with news today: Introducing Synopsys DSO.ai™: The world's first autonomous AI application for chip design MOUNTAIN VIEW, Calif., March 11, 2020 /PRNewswire/ -- Highlights: Inspired by DeepMind's AlphaZero AI that mastered complex games like chess and Go, Synopsys' DSO.ai™ solution is able to autonomously search for optimization targets in very large solution spaces of chip design Synopsys' DSO.ai massively scales exploration of options in chip design workflows while automating less consequential decisions, significantly augmenting the throughput of chip design teams Development partners have realized disruptive results with DSO.ai, achieving targets in a fraction of the time and with fewer resources Synopsys, Inc. (Nasdaq: SNPS) today announced a major breakthrough in electronic design technology with the introduction of DSO.ai™ (Design Space Optimization AI), the industry's first autonomous artificial intelligence application for chip design. Inspired by DeepMind's AlphaZero that mastered complex games like chess or Go, Synopsys' DSO.ai solution is an artificial intelligence and reasoning engine capable of searching for optimization targets in very large solution spaces of chip design. DSO.ai revolutionizes chip design by massively scaling exploration of options in design workflows while automating less consequential decisions, allowing SoC teams to operate at expert levels and significantly amplifying overall throughput. "As new silicon technologies are testing the limits of physics, our customers are looking for manufacturing solutions that enable their innovative products," said Jaehong Park, executive vice president of Foundry Design Platform Development at Samsung Electronics. "In our design environment, Synopsys' DSO.ai systematically found optimal solutions that exceeded our previously achieved power-performance-area results. Furthermore, DSO.ai was able to achieve these results in as few as 3 days; a process that typically takes multiple experts over a month of experimentation. This AI-driven design methodology will enable Samsung Foundry customers to fully utilize the benefits of our cutting-edge silicon technologies for their SOC designs." Developed from the ground up at Synopsys, DSO.ai is part of a multiyear, company-wide initiative and strategic investment in AI-based design technology. Chip Design: A Vast Search Space Today, AI can interact with humans through natural language, identify bank fraud and protect computer networks, drive cars around city streets, and play intelligent games like chess and Go. Chip design too is a very large space of potential solutions, trillions of times larger than, for example, the game of Go. Searching this vast space is a very labor-intensive effort, typically requiring many weeks of experimentation, and often guided by past experiences and tribal knowledge. A chip design workflow typically consumes and generates terabytes of highly dimensional data compartmentalized and fragmented across many separately optimized silos. To create an optimal design recipe, engineers have to ingest volumes of high-velocity data and make complex decisions on the fly with incomplete analysis, often leading to decision fatigue and over-constraining of their design. With today's hypercompetitive markets and stringent silicon manufacturing requirements, the difference between a good recipe and an optimal recipe can be 100s of MHz of performance, hours of battery life, and millions of dollars in design costs. The EDA Industry's First Autonomous AI Application for Chip Design Synopsys' DSO.ai solution revolutionizes the process of searching for optimal solutions by enabling autonomous optimization of broad design spaces. DSO.ai engines ingest large data streams generated by chip design tools and use them to explore search spaces, observing how a design evolves over time and adjusting design choices, technology parameters, and workflows to guide the exploration process towards multi-dimensional optimization objectives. DSO.ai uses cutting-edge machine-learning technology invented by Synopsys R&D to execute searches at massive scale, autonomously operating tens-to-thousands of exploration vectors and ingesting gigabytes of high-velocity design analysis data – all in real-time. At the same time, DSO.ai automates less consequential decisions, like tuning tool settings, relieving designers of menial tasks and allowing teams to operate at a near-expert level. Knowledge is shared and applied with high effectiveness across entire design teams. This level of productivity means that engineers are now available for more projects, apply more time on a given problem to achieve better results, handle larger parts of a project, and focus on creative and value-added tasks. A Leap in Productivity Better design solutions, every time: By massively scaling design workflows, Synopsys' DSO.ai brings immediate visibility into hard-to-explore design-process-technology solution spaces. Enhanced visibility means bringing to market more differentiated products with better performance and higher energy-efficiency – all within existing budgets and schedules. It means maximizing the benefits of silicon process technologies and pushing the limits of scaling. Faster time to market: With Synopsys' DSO.ai solution, the throughput of engineering teams is significantly amplified, and less consequential tasks are completely automated. DSO.ai means slashing lead times to creating products for new markets while accelerating derivatives of existing products to a fraction of current schedules. It means effortlessly retargeting products to different markets with different feature sets. Reduced cost through automation: DSO.ai can mean making the best of the most valuable resource – engineering creativity. Relieved from manual, time consuming tasks, engineers can now become available to take on new projects; new hires can be ramped-up quickly to operate at the level of experienced veterans; and overall support overhead for design and manufacturing is minimized. "Ever since the introduction of Design Compiler in the late '80s, Synopsys has been enabling silicon innovators with tools and technologies across the design spectrum," said Sassine Ghazi, general manager, Design Group at Synopsys. "With DSO.ai, once again, Synopsys is starting a new chapter in semiconductor design. More than two years ago we set out on a fascinating journey to bring AI to chip design, partnering with academic researchers, industry thought leaders, and AI technology pioneers. Today's announcement marks a very important milestone, and our journey in AI is only just beginning." Synopsys' DSO.ai solution is currently in select deployments with industry-leading partners with broader availability planned for the second half of 2020. About Synopsys Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com. As always, trade with caution. Good luck to all!
NASDAQ:SNPSLong
by InsiderFinancial