Synopsys, Inc. (SNPS - Get Report) is expected to report net income of $168.5 million, or $1.10 a share, on sales of $831 million after the market closes on Wednesday, based on a FactSet survey of 8 analysts.

In the same period a year ago, the company posted earnings of 95 cents a share on sales of $779.7 million. It reported net income of $102.5 million.

The stock has risen 12.9% since the company last reported earnings on May. 22.

Quarterly estimates have risen less than 1 cent a share in the past month.

Synopsys is currently trading at a price-to-forward-earnings ratio of 27.1 based on the 12-month estimates of 9 analysts surveyed by FactSet.

The company offered guidance of $1.07 to $1.12 a share on May. 23.

In the upcoming quarter analysts are forecasting net income of $155.8 million, or $1.01 a share, on sales of $838.5 million.

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