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Dec. 2, 2015, 6:37 PM
- Though Synopsys (NASDAQ:SNPS) beat FQ4 estimates, it's guiding for FQ1 revenue of $560M-$575M and EPS of $0.60-$0.63, mostly below a consensus of $573.2M and $0.73.
- FY16 (ends Oct. '16) guidance is better: Revenue of $2.35B-$2.39B and EPS of $2.93-$3.00 vs. a consensus of $2.38B and $2.97. FY16 op. cash flow is expected to be "at least" $500M.
- The EDA systems/software firm notes it's dealing with a "somewhat challenging semiconductor industry backdrop." Peer Mentor Graphics recently stated (while posting an FQ3 miss and issuing soft FQ4 guidance) chip industry consolidation was weighing on demand.
- Shares have dropped to $48.80 after hours.
- FQ4 results, PR
Dec. 2, 2015, 4:13 PM
Dec. 1, 2015, 5:35 PM
Nov. 19, 2015, 5:41 PM
- In addition to missing FQ3 estimates, Mentor Graphics (NASDAQ:MENT) has guided for FQ4 revenue of $336M and EPS of $0.47, well below a consensus of $439.3M and $0.97.
- Notably, the EDA hardware/software vendor states the chip industry's massive M&A wave is "having an adverse impact on our ability to close business," as are delays in buying decisions for Mentor's Veloce emulation systems.
- System/software revenue fell 5% Y/Y in FQ3 to $168.7M, while service/support revenue (more stable) rose 6% to $121.8M. Non-GAAP operating expenses rose 3% Y/Y to $201.4M.
- Mentor has plunged to $21.49 after hours. EDA peers are also lower: Cadence (NASDAQ:CDNS) is down 7.7% to $21.35, and Synopsys (NASDAQ:SNPS) is down 2.6% to $51.17.
- Mentor's FQ3 miss, PR
Sep. 1, 2015, 4:27 PM
- Five days after announcing a $100M accelerated buyback (ASR) and 9 months after launching a $180M ASR, Synopsys (NASDAQ:SNPS) has hiked its buyback authorization to $500M. The EDA software vendor did something similar in Dec. 2013.
- At current levels, Synopsys' authorization is good for repurchasing 7% of outstanding shares.
Aug. 19, 2015, 4:09 PM
- Synopsys (NASDAQ:SNPS): FQ3 EPS of $0.63 beats by $0.04.
- Revenue of $555.8M (+6.5% Y/Y) in-line.
Aug. 18, 2015, 5:35 PM
Jul. 17, 2015, 1:50 PM
- Synopsys (SNPS -0.6%) has acquired chip IP related to the low-power Bluetooth Smart protocol (expected to be used by many embedded/wearable devices) from private IP developer Silicon Vision. Terms are undisclosed.
- Synopsys states the deal will strengthen its DesignWare chip IP portfolio, particularly in terms of servicing chipmakers looking to include Bluetooth support within SoCs going into IoT devices.
- In late June, Synopsys announced the purchase of security IP provider Elliptic Technologies.
Jun. 30, 2015, 2:10 PM
- Elliptic Technologies provides cryptography cores and middleware, security protocol accelerators/processors, security IP modules, and other security-related IP for chipmakers and electronics firms. Synopsys (SNPS +1.5%) is buying the company for an undisclosed sum.
- Synopsys states Elliptic's offerings will complement its DesignWare chip IP portfolio. The deal follows the acquisition of Codenomicon, a Finnish provider of software tools that help developers uncover/fix security issues.
May 20, 2015, 4:07 PM
- Synopsys (NASDAQ:SNPS): FQ2 EPS of $0.68 beats by $0.05.
- Revenue of $557.2M (+7.6% Y/Y) beats by $10.74M.
- Shares -0.9%.
May 19, 2015, 5:35 PM
Apr. 20, 2015, 2:39 PM
- A federal appeals court has denied a Synopsys (SNPS +0.9%) request to stay a March injunction on emulators and software deemed to be infringing a Mentor Graphics (MENT +3.5%) emulation patent.
- Mentor was granted an injunction by an Oregon federal court, and also had a $36M award against Synopsys confirmed. At the time, Synopsys responded by stating it's working on a new version of its ZeBu Server software that doesn't infringe Mentor's IP, and that it will continue selling ZeBu Server emulation systems overseas.
- Meanwhile, Synopsys has announced it's buying Codenomicon, a Finnish provider of software that helps developers uncover and fix security issues, as well as protect apps against attacks. Codenomicon's solutions (often embedded within chips/devices) complement Synopsys' existing developer tools. Deal terms are undisclosed.
- Mentor is up strongly, and less than a dollar away from a 52-week high of $25.43.
Mar. 13, 2015, 4:04 PM
- An Oregon federal court has granted Mentor Graphics (MENT -0.3%) an injunction that prevents EDA software rival Synopsys (SNPS +0.2%) from "making, using, selling, offering to sell, licensing or leasing in the United States any emulators or software that incorporate Mentor Graphics' patented emulation technology covered by U.S. Patent No. 6,240,376."
- The court has also banned Synopsys from importing emulators featuring Mentor's IP, and has confirmed a prior $36M award for lost profits stemming from past infringement by Synopsys.
- Synopsys has responded by stating "it will continue to sell, ship and support its high-performance ZeBu Server emulation systems worldwide, and that it has released a new version of ZeBu Server software that does not include the two features previously found to infringe on a [Mentor] patent."
- The ruling comes two months after Mentor won a summary judgment stating claims within 3 Synopsys patents asserted against Mentor are invalid. The USPTO is conducting an inter partes review of claims within a fourth patent.
Feb. 18, 2015, 4:11 PM
- Synopsys (NASDAQ:SNPS): FQ1 EPS of $0.80 beats by $0.18.
- Revenue of $542.04M (+13.2% Y/Y) in-line.
Feb. 17, 2015, 5:35 PM
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Jan. 21, 2015, 3:56 PM
- Mentor Graphics (MENT -0.4%) has won a summary judgment declaring the claims within three patents asserted by Synopsys (SNPS +0.6%) in an infringement suit are invalid. Litigation of a fourth patent being asserted has been stayed, pending a USPTO inter partes review of its claims.
- Separately, Synopsys has announced it's expanding its memory verification IP portfolio for the growing mobile chip market. The new IP is related to the UFS, UniPro, and eMMC protocols.
Synopsys Inc is a provider of software, intellectual property and services used to design integrated circuits and electronics systems. It also provides software & services used to develop electronic systems that incorporate chips.
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