Chip design software maker Synopsys late Wednesday trounced Wall Street's targets for its fiscal second quarter. SNPS stock rose in extended trading.
The Mountain View, Calif.-based company earned an adjusted $1.70 a share on sales of $1.02 billion in the quarter ended April 30. Analysts expected Synopsys earnings of $1.52 a share on sales of $988.7 million. In the year-earlier period, Synopsys earned an adjusted $1.22 a share on sales of $861.3 million.
In after-hours trading on the stock market today, SNPS stock advanced 2%, near 242. During the regular session Wednesday, SNPS stock rose 1% to 237.36.
SNPS stock has been consolidating for the past 14 weeks with a buy point of 301.01, according to IBD MarketSmith charts.

