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    SNPS   US8716071076

SYNOPSYS INC.

(SNPS)
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Synopsys : Initiates $175 Million Accelerated Share Repurchase Agreement (Form 8-K)

06/24/2021 EDT

Synopsys Initiates $175 Million Accelerated Share Repurchase Agreement

MOUNTAIN VIEW, Calif. - June 24, 2021 - Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with Mizuho Markets Americas LLC to repurchase an aggregate of $175 million of Synopsys stock.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 521,000 shares, with the remainder, if any, to be settled on or before August 18, 2021, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on the average of Synopsys' daily volume-weighted average share prices during the repurchase period, less a discount.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products. Learn more at www.synopsys.com.

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Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the expected settlement of the ASR. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others: the market price of Synopsys common stock during the repurchase period; the ability of Mizuho Markets Americas LLC to buy or borrow shares of Synopsys common stock; and the impact of global and regional economic and market conditions, including illiquidity and other risks of instability in the banking and financial services industry. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

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Disclaimer

Synopsys Inc. published this content on 24 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 11:48:08 UTC.


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Financials (USD)
Sales 2021 4 203 M - -
Net income 2021 738 M - -
Net cash 2021 1 544 M - -
P/E ratio 2021 66,9x
Yield 2021 -
Capitalization 48 481 M 48 481 M -
EV / Sales 2021 11,2x
EV / Sales 2022 9,94x
Nbr of Employees 15 036
Free-Float 96,4%
Chart SYNOPSYS INC.
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Synopsys Inc. Technical Analysis Chart | SNPS | US8716071076 | MarketScreener
Technical analysis trends SYNOPSYS INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 14
Last Close Price 317,90 $
Average target price 332,71 $
Spread / Average Target 4,66%
EPS Revisions
Managers and Directors
Chi-Foon Chan President, Co-Chief Executive Officer & Director
Aart J. de Geus Chairman & Co-Chief Executive Officer
Trac Pham Chief Financial Officer
Sriram Sitaraman Chief Information Officer
Sassine Ghazi Chief Operating Officer
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