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Synopsys (SNPS), ReversingLabs Tie Up for Supply Chain Management
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Synopsys (SNPS - Free Report) recently signed an agreement with Massachusetts-based Software Supply Chain Security (“SSCS”) platform provider, ReversingLabs. Per the deal, the company is now authorized to resell ReversingLabs’ SSCS Platform with its Software Integrity Group’s Black Duck solution.
ReversingLabs’ SSCS platform will complement the capabilities of Synopsys’ Black Duck solution by scanning commercial third-party components for vulnerabilities, malware and instances of software tampering. This will aid SNPS to automatically create comprehensive and actionable software bill of materials (SBOMs) throughout its software supply chain.
Synopsys’ Black Duck software composition analysis helps teams manage the security, quality, and license compliance risks that come from the use of open source and third-party code in applications and containers. Meanwhile, the SSCS platform addresses SBOM requirements and software supply chain attacks as part of software development and continuous integration and delivery workflows.
The latest integration is likely to provide additional security risk insight to the development teams to identify malware, software tampering and anomalies inserted in software fast and avert supply chain threats before release.
Synopsys has been benefiting from strong design wins owing to a robust product portfolio. The company’s penetration into new and growing artificial intelligence chip companies is a major growth driver. With the increasing need for enhanced security measures, considering the rising security threats in interconnected systems laden with software, demand for Synopsys’ solutions is shooting up. Robust growth in software-based verification at both traditional semiconductor and emerging system companies focused on its own in-house design is an upside.
Last month, Synopsys reinforced its collaboration with Taiwan Semiconductor Manufacturer Company and Ansys for the design and manufacture of multi-die systems. Multi-die systems integrate heterogeneous dies in a single package, providing a path for designers to efficiently deliver innovative products with unprecedented functionality. By reusing proven dies, designers reduce risks, accelerate time to market and rapidly create new product variants with optimized system power and performance.
In a separate deal, in the same month, SNPS introduced the first-of-its-kind ZeBu Server 5 emulation system. It can deliver up to 30 billion gates capacity, two times higher throughput and improved energy use with less than half power consumption compared with its predecessor.
In first-quarter fiscal 2023, the Synopsys Electronic Design Automation segment reported revenues of $874.3 million, up 12.3% on a year-over-year basis. Total revenues jumped 7.2% year over year to $1.36 billion in the last quarter. For second-quarter fiscal 2023, the Zacks Consensus Estimate for revenues is pegged at $1.38 billion, which suggests an increase of 7.7%.
Zacks Rank & Key Picks
Synopsys currently carries a Zacks Rank #3 (Hold). Shares of SNPS have gained 40.4% over the past year.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 earnings has been revised 14% upward to $2.79 per share over the past 30 days. For 2023, earnings estimates have moved north by 12.1% to $11.76 in the past 30 days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 15.5%. Shares of the company have gained 23.6% in the past year.
The Zacks Consensus Estimate for Momo’s first-quarter 2023 earnings has been revised southward from 36 cents to 32 cents per share over the past 30 days. For 2023, earnings estimates have moved down by 3 cents to $1.55 in the past 30 days.
MOMO's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 31.9%. Shares of the company have gained 79.8% in the past year.
The Zacks Consensus Estimate for ServiceNow’s second-quarter 2023 earnings has been revised northward by 11 cents to $2.04 per share over the past 30 days. For 2023, earnings estimates have moved up by 39 cents to $9.54 in the past 30 days.
NOW's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 10.4%. Shares of the company have inched up 4.5% in the past year.
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Synopsys (SNPS), ReversingLabs Tie Up for Supply Chain Management
Synopsys (SNPS - Free Report) recently signed an agreement with Massachusetts-based Software Supply Chain Security (“SSCS”) platform provider, ReversingLabs. Per the deal, the company is now authorized to resell ReversingLabs’ SSCS Platform with its Software Integrity Group’s Black Duck solution.
ReversingLabs’ SSCS platform will complement the capabilities of Synopsys’ Black Duck solution by scanning commercial third-party components for vulnerabilities, malware and instances of software tampering. This will aid SNPS to automatically create comprehensive and actionable software bill of materials (SBOMs) throughout its software supply chain.
Synopsys’ Black Duck software composition analysis helps teams manage the security, quality, and license compliance risks that come from the use of open source and third-party code in applications and containers. Meanwhile, the SSCS platform addresses SBOM requirements and software supply chain attacks as part of software development and continuous integration and delivery workflows.
The latest integration is likely to provide additional security risk insight to the development teams to identify malware, software tampering and anomalies inserted in software fast and avert supply chain threats before release.
Synopsys, Inc. Price and Consensus
Synopsys, Inc. price-consensus-chart | Synopsys, Inc. Quote
Synopsys has been benefiting from strong design wins owing to a robust product portfolio. The company’s penetration into new and growing artificial intelligence chip companies is a major growth driver. With the increasing need for enhanced security measures, considering the rising security threats in interconnected systems laden with software, demand for Synopsys’ solutions is shooting up. Robust growth in software-based verification at both traditional semiconductor and emerging system companies focused on its own in-house design is an upside.
Last month, Synopsys reinforced its collaboration with Taiwan Semiconductor Manufacturer Company and Ansys for the design and manufacture of multi-die systems. Multi-die systems integrate heterogeneous dies in a single package, providing a path for designers to efficiently deliver innovative products with unprecedented functionality. By reusing proven dies, designers reduce risks, accelerate time to market and rapidly create new product variants with optimized system power and performance.
In a separate deal, in the same month, SNPS introduced the first-of-its-kind ZeBu Server 5 emulation system. It can deliver up to 30 billion gates capacity, two times higher throughput and improved energy use with less than half power consumption compared with its predecessor.
In first-quarter fiscal 2023, the Synopsys Electronic Design Automation segment reported revenues of $874.3 million, up 12.3% on a year-over-year basis. Total revenues jumped 7.2% year over year to $1.36 billion in the last quarter. For second-quarter fiscal 2023, the Zacks Consensus Estimate for revenues is pegged at $1.38 billion, which suggests an increase of 7.7%.
Zacks Rank & Key Picks
Synopsys currently carries a Zacks Rank #3 (Hold). Shares of SNPS have gained 40.4% over the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Meta Platforms (META - Free Report) , Momo (MOMO - Free Report) and ServiceNow (NOW - Free Report) . While Meta Platforms and Momo sport a Zacks Rank #1 (Strong Buy), ServiceNow carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 earnings has been revised 14% upward to $2.79 per share over the past 30 days. For 2023, earnings estimates have moved north by 12.1% to $11.76 in the past 30 days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 15.5%. Shares of the company have gained 23.6% in the past year.
The Zacks Consensus Estimate for Momo’s first-quarter 2023 earnings has been revised southward from 36 cents to 32 cents per share over the past 30 days. For 2023, earnings estimates have moved down by 3 cents to $1.55 in the past 30 days.
MOMO's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 31.9%. Shares of the company have gained 79.8% in the past year.
The Zacks Consensus Estimate for ServiceNow’s second-quarter 2023 earnings has been revised northward by 11 cents to $2.04 per share over the past 30 days. For 2023, earnings estimates have moved up by 39 cents to $9.54 in the past 30 days.
NOW's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 10.4%. Shares of the company have inched up 4.5% in the past year.