MOUNTAIN VIEW, Calif.,
June 17, 2021 /PRNewswire/
-- Synopsys, Inc. (Nasdaq: SNPS) today announced that its
Board of Directors has replenished its existing stock repurchase
authorization up 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 by the chief financial
officer or the Board of Directors at their sole 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 an S&P 500
company, Synopsys has a long history of being a global leader in
electronic design automation (EDA) and semiconductor IP and offers
the industry's broadest portfolio of application security testing
tools and services. Whether you're a system-on-chip (SoC) designer
creating advanced semiconductors, or a software developer writing
more secure, high-quality code, Synopsys has the solutions needed
to deliver innovative products. Learn more at www.synopsys.com.
Safe Harbor for Forward-Looking
Statements
This press release contains forward-looking statements,
including, but not limited to, statements related to the timing and
extent of stock repurchases, if any, 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 in the
forward-looking statements. These risks and uncertainties include,
among others: fluctuations in the market price of Synopsys common
stock and our use of cash for other purposes. 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.