Synopsys (NASDAQ:SNPS) Sets New 52-Week Low - Time to Sell?

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $365.74 and last traded at $380.90, with a volume of 3060071 shares traded. The stock had previously closed at $388.13.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Piper Sandler decreased 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. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. One 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.com, Synopsys has a consensus rating of "Moderate Buy" and an average target price of $638.58.

Synopsys Stock Performance

The firm has a market cap of $65.13 billion, a PE ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.23. The company's 50-day simple moving average is $457.51 and its two-hundred day simple moving average is $498.13.

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Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $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 is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synopsys

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Synopsys by 0.8% in the 4th 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 during the period. Capital World Investors grew its holdings in shares of Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after acquiring an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD lifted 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 valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC boosted its position in Synopsys by 2.3% in 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 purchasing an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

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.