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Sunnyvale, California-based Synopsys, Inc. (SNPS) provides electronic design automation software products used to design and test integrated circuits. Valued at a market cap of $84.2 billion, the company offers a full suite of products used in the logic synthesis and functional verification phases of chip design, including a broad array of reusable design building blocks. It is expected to announce its fiscal Q1 earnings results on Wednesday, Feb. 19.
Prior to this event, analysts expect the software company to report a profit of $1.86 per share, down 35.9% from $2.90 per share in the year-ago quarter. The company has a solid track record of consistently beating Wall Street's bottom-line estimates in the last four quarters. Its earnings of $2.46 per share in the previous quarter outpaced the forecasted figure by roughly 2.1%.
