MOUNTAIN VIEW, Calif.,
June 14, 2019 /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; 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.