Synopsys (NASDAQ:SNPS) Sets New 12-Month Low – Should You Sell?

Shares of Synopsys, Inc. (NASDAQ:SNPS) reached a new 52-week low during trading on Monday . The company traded as low as $423.08 and last traded at $426.49, with a volume of 96037 shares. The stock had previously closed at $437.95.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Down 2.7 %

The business’s 50-day simple moving average is $485.62 and its 200 day simple moving average is $505.72. The firm has a market cap of $65.88 billion, a PE ratio of 29.34, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last ninety days. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after purchasing an additional 120,575 shares in the last quarter. Capital World Investors increased its position in Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after buying an additional 114,893 shares in the last quarter. State Street Corp raised its stake in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after acquiring an additional 75,298 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.