Why Synopsys Stock Gained 15% in August
Synopsys (NASDAQ: SNPS) shareholders beat a rallying market last month. The stock rose 15% in August compared to 3% spike in the S&P 500, according to data provided by S&P Global Market Intelligence. The semiconductor tech giant reported strong earnings and issued a bullish outlook for both 2021 and over the long term.
Sales trends were robust in the fiscal third quarter, with revenue rising 10% to just under $1.1 billion. That success put Synopsys on a growth and earnings trajectory that management believes is meaningfully better than it had previously estimated. "The market is not only strong," co-CEO Aart de Gues said in the conference call, "it is transforming in a way that is very positive for Synopsys."
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Source Fool.com
