Movement Alert｜Synopsys Rises 3.17% in Regular Trading, Wells Fargo Upgrade and Strong Q3 Earnings Boost Sentiment

Market Focus09-17

On September 17, Synopsys rose 3.17% in regular trading, trading at $379.13 per share, with turnover of $243 million. The rally was driven by a combination of better-than-expected fiscal Q3 results and a notable analyst upgrade from Wells Fargo.

On the earnings front, Synopsys reported fiscal Q3 revenue of $2.48 billion, up 42% year-over-year, with adjusted EPS of $3.91, both surpassing market expectations of $2.44 billion and $3.67 respectively. The company also raised its full-year revenue guidance to $9.69 billion-$9.74 billion and lifted non-GAAP EPS guidance to $15.04-$15.10, above consensus estimates. Management emphasized on the earnings call that AI is not a threat but rather a catalyst for greater software demand, with EDA revenue expected to achieve double-digit growth for the full year.

Meanwhile, Wells Fargo upgraded Synopsys from Equalweight to Overweight with a price target raised to $475, citing improving AI demand momentum. This follows earlier upgrades from Morgan Stanley and Baird, reflecting growing institutional confidence in the company's growth trajectory.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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