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AVGOP - Synopsys: On The Leading Edge Of Technology (And Valuation)
Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock Series A
Synopsys (SNPS) is the leading supplier of EDA software and design IP used by semiconductor chip engineers to design and test their integrated circuits and Systems-on-a-Chip ("SoCs"). Despite a sell-off today (Tuesday) the stock is up 40% YTD, and up over 80% from the March low. The most recent earnings report was a beat, but the P/E=50 appears to be very generous and the stock does not pay a dividend. The question becomes: did the earnings report rationalize such a rich valuation?