Intrinsic value of Synopsys - SNPS

Previous Close

$93.34

  Intrinsic Value

$33.74

stock screener

  Rating & Target

str. sell

-64%

Previous close

$93.34

 
Intrinsic value

$33.74

 
Up/down potential

-64%

 
Rating

str. sell

We calculate the intrinsic value of SNPS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 14.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.50
  11.75
  11.08
  10.47
  9.92
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.35
  7.12
  6.91
  6.72
  6.54
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.44
  5.39
  5.35
Revenue, $m
  3,066
  3,426
  3,805
  4,204
  4,621
  5,056
  5,511
  5,984
  6,476
  6,988
  7,520
  8,073
  8,648
  9,245
  9,866
  10,512
  11,183
  11,883
  12,610
  13,369
  14,159
  14,983
  15,843
  16,741
  17,678
  18,657
  19,680
  20,750
  21,869
  23,039
Variable operating expenses, $m
  2,627
  2,901
  3,189
  3,492
  3,809
  4,141
  4,486
  4,846
  5,220
  5,609
  5,718
  6,138
  6,575
  7,030
  7,502
  7,993
  8,503
  9,035
  9,588
  10,165
  10,766
  11,392
  12,046
  12,728
  13,441
  14,185
  14,963
  15,777
  16,628
  17,518
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,627
  2,901
  3,189
  3,492
  3,809
  4,141
  4,486
  4,846
  5,220
  5,609
  5,718
  6,138
  6,575
  7,030
  7,502
  7,993
  8,503
  9,035
  9,588
  10,165
  10,766
  11,392
  12,046
  12,728
  13,441
  14,185
  14,963
  15,777
  16,628
  17,518
Operating income, $m
  439
  525
  616
  711
  811
  916
  1,025
  1,138
  1,256
  1,379
  1,802
  1,935
  2,073
  2,216
  2,365
  2,519
  2,680
  2,848
  3,022
  3,204
  3,393
  3,591
  3,797
  4,012
  4,237
  4,471
  4,717
  4,973
  5,241
  5,522
EBITDA, $m
  1,087
  1,215
  1,350
  1,491
  1,639
  1,793
  1,954
  2,122
  2,297
  2,478
  2,667
  2,863
  3,067
  3,279
  3,499
  3,728
  3,966
  4,214
  4,472
  4,741
  5,022
  5,314
  5,619
  5,937
  6,270
  6,617
  6,980
  7,359
  7,756
  8,171
Interest expense (income), $m
  7
  8
  22
  37
  53
  70
  87
  106
  125
  145
  165
  187
  209
  233
  257
  282
  308
  335
  363
  393
  423
  455
  488
  523
  559
  597
  636
  677
  720
  765
  812
Earnings before tax, $m
  431
  503
  579
  658
  741
  828
  919
  1,013
  1,111
  1,213
  1,615
  1,726
  1,840
  1,959
  2,083
  2,211
  2,345
  2,485
  2,630
  2,781
  2,938
  3,103
  3,274
  3,453
  3,640
  3,835
  4,039
  4,253
  4,476
  4,709
Tax expense, $m
  116
  136
  156
  178
  200
  224
  248
  274
  300
  328
  436
  466
  497
  529
  562
  597
  633
  671
  710
  751
  793
  838
  884
  932
  983
  1,035
  1,091
  1,148
  1,208
  1,272
Net income, $m
  315
  367
  422
  480
  541
  605
  671
  740
  811
  886
  1,179
  1,260
  1,343
  1,430
  1,520
  1,614
  1,712
  1,814
  1,920
  2,030
  2,145
  2,265
  2,390
  2,521
  2,657
  2,800
  2,949
  3,104
  3,267
  3,438

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,071
  6,784
  7,535
  8,324
  9,150
  10,012
  10,912
  11,849
  12,824
  13,838
  14,892
  15,987
  17,125
  18,307
  19,537
  20,815
  22,146
  23,530
  24,971
  26,473
  28,038
  29,670
  31,372
  33,150
  35,005
  36,944
  38,970
  41,089
  43,304
  45,623
Adjusted assets (=assets-cash), $m
  6,071
  6,784
  7,535
  8,324
  9,150
  10,012
  10,912
  11,849
  12,824
  13,838
  14,892
  15,987
  17,125
  18,307
  19,537
  20,815
  22,146
  23,530
  24,971
  26,473
  28,038
  29,670
  31,372
  33,150
  35,005
  36,944
  38,970
  41,089
  43,304
  45,623
Revenue / Adjusted assets
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
  0.505
Average production assets, $m
  3,525
  3,940
  4,376
  4,834
  5,314
  5,815
  6,337
  6,881
  7,448
  8,036
  8,648
  9,284
  9,945
  10,632
  11,346
  12,089
  12,861
  13,665
  14,502
  15,374
  16,283
  17,231
  18,219
  19,252
  20,329
  21,455
  22,632
  23,862
  25,149
  26,495
Working capital, $m
  -561
  -627
  -696
  -769
  -846
  -925
  -1,008
  -1,095
  -1,185
  -1,279
  -1,376
  -1,477
  -1,583
  -1,692
  -1,806
  -1,924
  -2,047
  -2,175
  -2,308
  -2,446
  -2,591
  -2,742
  -2,899
  -3,064
  -3,235
  -3,414
  -3,601
  -3,797
  -4,002
  -4,216
Total debt, $m
  409
  690
  985
  1,295
  1,619
  1,958
  2,312
  2,680
  3,063
  3,462
  3,876
  4,306
  4,754
  5,218
  5,702
  6,204
  6,727
  7,271
  7,837
  8,427
  9,042
  9,684
  10,353
  11,051
  11,781
  12,543
  13,339
  14,171
  15,042
  15,953
Total liabilities, $m
  2,386
  2,666
  2,961
  3,271
  3,596
  3,935
  4,288
  4,657
  5,040
  5,438
  5,852
  6,283
  6,730
  7,195
  7,678
  8,180
  8,703
  9,247
  9,814
  10,404
  11,019
  11,660
  12,329
  13,028
  13,757
  14,519
  15,315
  16,148
  17,019
  17,930
Total equity, $m
  3,685
  4,118
  4,574
  5,053
  5,554
  6,078
  6,624
  7,192
  7,784
  8,400
  9,039
  9,704
  10,395
  11,113
  11,859
  12,635
  13,442
  14,283
  15,158
  16,069
  17,019
  18,010
  19,043
  20,122
  21,248
  22,425
  23,655
  24,941
  26,286
  27,693
Total liabilities and equity, $m
  6,071
  6,784
  7,535
  8,324
  9,150
  10,013
  10,912
  11,849
  12,824
  13,838
  14,891
  15,987
  17,125
  18,308
  19,537
  20,815
  22,145
  23,530
  24,972
  26,473
  28,038
  29,670
  31,372
  33,150
  35,005
  36,944
  38,970
  41,089
  43,305
  45,623
Debt-to-equity ratio
  0.110
  0.170
  0.220
  0.260
  0.290
  0.320
  0.350
  0.370
  0.390
  0.410
  0.430
  0.440
  0.460
  0.470
  0.480
  0.490
  0.500
  0.510
  0.520
  0.520
  0.530
  0.540
  0.540
  0.550
  0.550
  0.560
  0.560
  0.570
  0.570
  0.580
Adjusted equity ratio
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  315
  367
  422
  480
  541
  605
  671
  740
  811
  886
  1,179
  1,260
  1,343
  1,430
  1,520
  1,614
  1,712
  1,814
  1,920
  2,030
  2,145
  2,265
  2,390
  2,521
  2,657
  2,800
  2,949
  3,104
  3,267
  3,438
Depreciation, amort., depletion, $m
  649
  690
  734
  780
  827
  878
  930
  984
  1,041
  1,100
  865
  928
  995
  1,063
  1,135
  1,209
  1,286
  1,366
  1,450
  1,537
  1,628
  1,723
  1,822
  1,925
  2,033
  2,146
  2,263
  2,386
  2,515
  2,650
Funds from operations, $m
  963
  1,057
  1,156
  1,260
  1,369
  1,482
  1,601
  1,724
  1,852
  1,985
  2,044
  2,188
  2,338
  2,493
  2,655
  2,823
  2,998
  3,180
  3,370
  3,567
  3,773
  3,988
  4,212
  4,446
  4,690
  4,945
  5,212
  5,491
  5,782
  6,087
Change in working capital, $m
  -62
  -66
  -69
  -73
  -76
  -80
  -83
  -87
  -90
  -94
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -133
  -139
  -145
  -151
  -157
  -164
  -172
  -179
  -187
  -196
  -205
  -214
Cash from operations, $m
  1,025
  1,123
  1,226
  1,333
  1,445
  1,562
  1,684
  1,810
  1,942
  2,079
  2,141
  2,289
  2,443
  2,603
  2,769
  2,941
  3,121
  3,308
  3,503
  3,706
  3,918
  4,139
  4,369
  4,610
  4,862
  5,124
  5,399
  5,686
  5,987
  6,302
Maintenance CAPEX, $m
  -313
  -353
  -394
  -438
  -483
  -531
  -581
  -634
  -688
  -745
  -804
  -865
  -928
  -995
  -1,063
  -1,135
  -1,209
  -1,286
  -1,366
  -1,450
  -1,537
  -1,628
  -1,723
  -1,822
  -1,925
  -2,033
  -2,146
  -2,263
  -2,386
  -2,515
New CAPEX, $m
  -391
  -414
  -436
  -458
  -480
  -501
  -522
  -544
  -566
  -589
  -612
  -636
  -661
  -687
  -714
  -743
  -772
  -804
  -837
  -872
  -909
  -948
  -989
  -1,032
  -1,078
  -1,126
  -1,177
  -1,230
  -1,287
  -1,346
Cash from investing activities, $m
  -704
  -767
  -830
  -896
  -963
  -1,032
  -1,103
  -1,178
  -1,254
  -1,334
  -1,416
  -1,501
  -1,589
  -1,682
  -1,777
  -1,878
  -1,981
  -2,090
  -2,203
  -2,322
  -2,446
  -2,576
  -2,712
  -2,854
  -3,003
  -3,159
  -3,323
  -3,493
  -3,673
  -3,861
Free cash flow, $m
  321
  356
  395
  437
  482
  530
  580
  633
  688
  746
  726
  788
  854
  921
  991
  1,064
  1,140
  1,218
  1,299
  1,384
  1,472
  1,563
  1,657
  1,756
  1,859
  1,965
  2,077
  2,193
  2,314
  2,440
Issuance/(repayment) of debt, $m
  265
  280
  295
  310
  325
  339
  354
  368
  383
  398
  414
  430
  447
  465
  483
  502
  523
  544
  566
  590
  615
  641
  669
  698
  729
  762
  796
  833
  871
  911
Issuance/(repurchase) of shares, $m
  94
  66
  34
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  359
  346
  329
  310
  325
  339
  354
  368
  383
  398
  414
  430
  447
  465
  483
  502
  523
  544
  566
  590
  615
  641
  669
  698
  729
  762
  796
  833
  871
  911
Total cash flow (excl. dividends), $m
  681
  702
  724
  747
  807
  869
  933
  1,001
  1,071
  1,144
  1,140
  1,219
  1,301
  1,386
  1,475
  1,567
  1,662
  1,762
  1,866
  1,974
  2,087
  2,204
  2,327
  2,454
  2,588
  2,727
  2,873
  3,025
  3,185
  3,351
Retained Cash Flow (-), $m
  -409
  -433
  -456
  -479
  -501
  -524
  -546
  -569
  -592
  -615
  -640
  -665
  -691
  -718
  -746
  -776
  -807
  -840
  -875
  -911
  -950
  -991
  -1,033
  -1,079
  -1,126
  -1,177
  -1,230
  -1,286
  -1,345
  -1,407
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  109
  123
  137
  152
  168
  185
  202
  220
  239
  259
  280
  301
  323
  346
  370
  395
  420
  447
  475
  504
  535
  566
  599
  634
  670
  707
  746
  787
  830
  875
Cash available for distribution, $m
  272
  270
  268
  268
  305
  345
  387
  432
  479
  529
  500
  554
  610
  668
  728
  791
  855
  922
  991
  1,063
  1,137
  1,213
  1,293
  1,376
  1,461
  1,551
  1,643
  1,740
  1,840
  1,944
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  261
  247
  233
  221
  237
  250
  262
  270
  275
  277
  238
  236
  232
  224
  214
  201
  186
  170
  153
  135
  118
  101
  85
  70
  57
  45
  35
  27
  20
  15
Current shareholders' claim on cash, %
  99.3
  98.9
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7
  98.7

Synopsys, Inc. provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves. It provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. It provides technical services to support its solutions and help its customers develop chips and electronic systems. It is also a provider of software tools that developers use to develop software code in a range of industries, including electronics, financial services, energy, and industrials. It offers products and services in four categories: core EDA; IP, Systems and Software Integrity; Manufacturing Solutions, and Professional Services and Other.

FINANCIAL RATIOS  of  Synopsys (SNPS)

Valuation Ratios
P/E Ratio 102.5
Price to Sales 5.2
Price to Book 4.3
Price to Tangible Book
Price to Cash Flow 22.1
Price to Free Cash Flow 46.5
Growth Rates
Sales Growth Rate 12.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 154.2%
Cap. Spend. - 3 Yr. Gr. Rate -7.9%
Financial Strength
Quick Ratio 105
Current Ratio 0
LT Debt to Equity 4.1%
Total Debt to Equity 4.4%
Interest Coverage 56
Management Effectiveness
Return On Assets 2.6%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.3%
Return On Equity 4.2%
Return On Equity - 3 Yr. Avg. 6.7%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 76%
Gross Margin - 3 Yr. Avg. 76.8%
EBITDA Margin 21.2%
EBITDA Margin - 3 Yr. Avg. 21.9%
Operating Margin 12.8%
Oper. Margin - 3 Yr. Avg. 12.6%
Pre-Tax Margin 14.1%
Pre-Tax Margin - 3 Yr. Avg. 13.4%
Net Profit Margin 5%
Net Profit Margin - 3 Yr. Avg. 8.7%
Effective Tax Rate 64.2%
Eff/ Tax Rate - 3 Yr. Avg. 34.4%
Payout Ratio 0%

SNPS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SNPS stock intrinsic value calculation we used $2725 million for the last fiscal year's total revenue generated by Synopsys. The default revenue input number comes from 2017 income statement of Synopsys. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SNPS stock valuation model: a) initial revenue growth rate of 12.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SNPS is calculated based on our internal credit rating of Synopsys, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Synopsys.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SNPS stock the variable cost ratio is equal to 86.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SNPS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Synopsys.

Corporate tax rate of 27% is the nominal tax rate for Synopsys. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SNPS stock is equal to 4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SNPS are equal to 115%.

Life of production assets of 10 years is the average useful life of capital assets used in Synopsys operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SNPS is equal to -18.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3276 million for Synopsys - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 150 million for Synopsys is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Synopsys at the current share price and the inputted number of shares is $14.0 billion.

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COMPANY NEWS

▶ /C O R R E C T I O N -- Synopsys, Inc./   [Aug-16-18 08:38PM  PR Newswire]
▶ New CEO at Santa Clara accelerator tells how it helps launch semiconductor startups   [Aug-13-18 02:04PM  American City Business Journals]
▶ Forget Bitcoin: You're Better Off Buying These 3 Stocks   [Aug-06-18 12:18PM  Motley Fool]
▶ 6 Small Tech Stocks That May Pay Off Big   [06:00AM  Investopedia]
▶ Synopsys Unveils Next-Generation ZeBu Server 4   [Jun-18-18 09:10AM  PR Newswire]
▶ Synopsys: Fiscal 2Q Earnings Snapshot   [04:16PM  Associated Press]
▶ Mountain View mulls taxing large employers like Google millions   [May-07-18 09:41AM  American City Business Journals]
▶ Synopsys' John Rogers Named SPIE Fellow   [09:05AM  PR Newswire]
▶ What Is Synopsys Incs (NASDAQ:SNPS) Share Price Doing?   [Mar-12-18 04:30PM  Simply Wall St.]
▶ Synopsys reports 1Q loss   [Feb-21-18 04:33PM  Associated Press]
▶ Synopsys, Inc. to Host Earnings Call   [01:00PM  ACCESSWIRE]
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