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

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

Analyst Ratings Changes

A number of brokerages recently commented on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Price Performance

The firm has a market cap of $67.41 billion, a PE ratio of 30.02, a PEG ratio of 3.23 and a beta of 1.16. The business’s 50 day moving average price is $481.79 and its 200 day moving average price is $504.91.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 over the last quarter. 0.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synopsys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hobart Private Capital LLC purchased a new position in shares of Synopsys during the first quarter worth $210,000. Cullen Investment Group LTD. purchased a new position in Synopsys in the first quarter valued at approximately $719,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Synopsys by 10.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 552 shares of the semiconductor company’s stock valued at $237,000 after acquiring an additional 51 shares during the period. Fairtree Asset Management Pty Ltd acquired a new stake in shares of Synopsys during the fourth quarter worth about $913,000. Finally, DSG Capital Advisors LLC purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $1,673,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

About Synopsys

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.