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Synopsys shares jumped 10% on Thursday after the chip-design software company issued a stronger-than-expected forecast for fiscal 2027.
The company also announced deals with OpenAI and Amazon Web Services. The announcements boosted investor confidence in its growth prospects.
Synopsys expects fiscal 2027 revenue to reach between $11.10 billion and $11.20 billion.
Analysts had expected average revenue of about $10.81 billion.
The company also forecast adjusted earnings of $19.04 to $19.12 per share. That compares with the $17.81 average estimate from analysts.
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The stronger outlook helped drive the rise in Synopsys shares.
Synopsys also announced plans to repurchase about $1 billion of its own shares.
The company expects revenue to grow at an annual compound rate of about 15% between fiscal 2026 and 2030.
Synopsys also targets an adjusted operating margin of about 50% by fiscal 2030.
The targets underline the company’s focus on expanding revenue while improving profitability.
Synopsys has also secured deals with OpenAI and Amazon Web Services.
The partnerships come as demand for artificial intelligence continues to drive investment in advanced chip design and semiconductor technology.
The company provides software that engineers use to design and test complex chips before production.
[…] Synopsys Shares jump 10% after strong 2027 forecast and AI deals […]