MOUNTAIN VIEW, Calif.,
June 19, 2020 /PRNewswire/
-- Synopsys, Inc. (Nasdaq: SNPS) today announced that its
Board of Directors has replenished its existing stock repurchase
authorization to $500 million.
"The replenishment of our repurchase authorization reinforces
our ongoing commitment to generate sustainable, long-term
shareholder value," said Trac Pham,
chief financial officer of Synopsys. "We continue to execute well
on our strategy to balance strategic investments to grow the
business, expand margins, and return capital to stockholders."
Synopsys' Board of Directors originally approved the stock
repurchase program in 2002 and has periodically replenished the
program as funds are spent. The program does not obligate Synopsys
to acquire any particular amount of common stock, and the program
may be suspended or terminated at any time at Synopsys'
discretion.
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 the world's 15th
largest software company, Synopsys has a long history of being a
global leader in electronic design automation (EDA) and
semiconductor IP and is also growing its leadership in software
security and quality solutions. Whether you're a system-on-chip
(SoC) designer creating advanced semiconductors, or a software
developer writing applications that require the highest security
and quality, Synopsys has the solutions needed to deliver
innovative, high-quality, secure products. Learn more at
www.synopsys.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements,
including statements related to the timing and extent of any stock
repurchases, and our planned deployment of capital. 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. These risks and uncertainties
include, among others: fluctuations in the market price of Synopsys
common stock; our use of cash for other purposes; our ability to
find suitable acquisition targets; the effect of the COVID-19
pandemic and the associated economic downturn on our business,
operations and financial condition; and global and regional
economic and market conditions, including their potential impact on
the semiconductor and electronics industries 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.
INVESTOR CONTACT:
Lisa L.
Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com
EDITORIAL CONTACT:
Simone
Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com
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SOURCE Synopsys, Inc.