Synopsys rises after $1 billion share repurchase agreement

Synopsys

05/10/2026 15:19

        ** Shares of electronic design automation software company Synopsys SNPS.N advance 2.4% to $502.62
** SNPS announces $1 billion accelerated share repurchase agreement with JPMorgan Chase Bank
** Co to initially receive about 1.735 million shares under the deal
** The final number of shares co repurchases will depend on SNPS's average share price during the repurchase period 
** Announcement comes days after SNPS issued an upbeat 2027 forecast, after striking a revenue-sharing deal with ChatGPT-maker OpenAI 
** Stock also supported by broader gains in the software sector
** Including session's move, stock up about 7% YTD

 (Reporting by Jayasree Prabhu)
 ((jayasree.prabhu@thomsonreuters.com))