- Synopsys Inc (NASDAQ:SNPS) disclosed an accelerated share repurchase agreement with Mizuho Markets Americas LLC to buyback its shares worth $300 million.
- As per the terms, Synopsys will get total initial share delivery of about 645,000 shares, to be settled by August 11, 2023, upon completion of the repurchases.
- Last week, the company reported Q2 FY23 revenues of $1.395 billion, exceeding the consensus of $1.380 billion and adjusted EPS of $2.54, beating the Street estimate of $2.46.
- Operating cash flow stood at $817.7 million, and cash and cash equivalent was $1.7 billion at the end of the quarter.
- The company expects an operating cash flow of around $1.650 billion at the end of the year.
- Price Action: SNPS shares are trading higher by 11.3% at $440.17 on the last check Thursday.
Mizuho Maintains Neutral on Bill.com Holdings, Lowers Price Target to $100
Mizuho analyst Siti Panigrahi maintains Bill.com Holdings (NYSE:BILL) with a Neutral and lowers the price target from $105 to $100.
