Synopsys (NASDAQ:SNPS) Reaches New 52-Week Low – Should You Sell?

Synopsys, Inc. (NASDAQ:SNPS) shares reached a new 52-week low on Monday . The company traded as low as $442.95 and last traded at $443.05, with a volume of 1475941 shares. The stock had previously closed at $457.28.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNPS. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler dropped their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company reduced 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. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Trading Down 3.1 %

The firm has a 50-day moving average of $506.14 and a two-hundred day moving average of $515.49. The firm has a market cap of $68.54 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 3.23 and a beta of 1.12.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred 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 directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter valued at $27,000. Ameriflex Group Inc. bought a new position in shares of Synopsys in the fourth quarter valued at about $29,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the fourth quarter valued at about $33,000. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys during the 4th quarter worth about $34,000. 85.47% of the stock is owned by institutional investors and hedge funds.

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.