Synopsys (NASDAQ:SNPS) Reaches New 1-Year Low - Should You Sell?

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report)'s share price reached a new 52-week low during mid-day 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 Ratings Changes

Several research firms have commented on SNPS. Needham & Company LLC restated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company cut 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. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Trading Down 4.7 %

The stock has a market capitalization of $64.59 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The company's 50 day moving average is $479.67 and its 200 day moving average is $504.45.

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Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SNPS. Kieckhefer Group LLC acquired a new position in Synopsys in the 4th quarter valued at $27,000. Ameriflex Group Inc. acquired a new position in Synopsys during the 4th quarter worth approximately $29,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys during the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys in the 4th quarter valued at approximately $34,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $39,000. 85.47% of the stock is currently 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.