Synopsys is set to announce its fiscal year first-quarter results on Feb. 17, 2021.
Synopsys, Inc. (SNPS) shares have been trading on a higher side in the past few days, crossing the average analyst 12-month price target of $264.82. The bullish sentiment is probably driven by Synopsys’ collaboration with Microsoft for the RAMP program.
SNPS stock closed the trading at $270.09 on Feb. 4. As we write this, the stock is soaring by 0.45% trading at $271.30 in the pre-market session.
There are some exciting projects for the company under progress. Moreover, the company had significant outcomes from the past year, with an increase in full-year revenue by 9.6% to $3.685 billion. So, the first quarter of 2021 is expected to report continuous growth in revenue—with increasing demand.
The US-tech firm, Synopsys (SNPS) works on silicon design and verification, silicon intellectual property, and software security and quality. The company has seen notable growth in a tough period of a pandemic. Thanks to the continuous growing demand. Moreover, the company’s innovation engine is delivering highly advanced capabilities throughout the portfolio.
Recently, the company announced a new project that’s underway. In collaboration with Microsoft, Synopsys would be working in the Rapid Assured Microelectronics Prototypes (RAMP) program. The motive is to support the development of workflow prototypes and integrated circuit hardware, using Synopsys’ assured design and manufacturing flows into Microsoft Azure.
The RAMP program is to empower Synopsys’ trusted design, verification, and silicon IP solutions on Microsoft Azure. Through this, the designers would be able to build state-of-the-art silicon devices with much security—via a confidential cloud environment.
The aim to commercialize this ecosystem and accelerate the progress of semiconductors for government bodies. Synopsys would be expanding its network to achieve the target and provide its best services to Silicon Valley.
Furthermore, the company just announced another milestone. Synopsys has launched its silicon proof of DesignWare® 112G Ethernet PHY IP in a 5nm FinFET process that would provide a much better performance, power, and area advantages. This is a big step forward that would allow designers to significantly reduce their integration risk for a faster path to silicon success.
Synopsys, Inc. (SNPS) is on the right way to success. The new developments would play a big part in the long-term. On the other side, the company has provided the outlook for this year. The expected revenue target is to surpass $4 million, higher than that of 2020. While the company has projected a continued non-GAAP operating margin expansion, with more than $1 billion in operating cash flow. So, the long-term prospect sounds pretty solid.