SNPS Stock Summary and Trading Ideas (Synopsys | NASDAQ:SNPS)

Synopsys is a provider of electronic design automation software and intellectual property products. EDA software automates and aids in the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Synopsys' comprehensive portfolio is benefiting from a convergence of semiconductor companies moving up the stack of technologies toward systems-like companies, and systems companies moving down-stack toward in-house chip design. The resulting expansion in EDA customers alongside secular digitalization of various end markets benefits EDA vendors like Synopsys.

Synopsys trades on the NASDAQ stock market under the symbol SNPS.

As of December 27, 2024, SNPS stock price declined to $486.17 with 166,330 million shares trading.

SNPS has a beta of 2.19, meaning it tends to be more sensitive to market movements. SNPS has a correlation of 0.57 to the broad based SPY ETF.

SNPS has a market cap of $75.15 billion. This is considered a Large Cap stock.

Last quarter Synopsys reported $2 billion in Revenue and $3.40 earnings per share. This beat revenue expectation by $6 million and exceeded earnings estimates by $.10.

In the last 3 years, SNPS traded as high as $629.38 and as low as $255.02.

The top ETF exchange traded funds that SNPS belongs to (by Net Assets): VTI, VOO, QQQ, SPY, VUG.

SNPS has underperformed the market in the last year with a price return of -6.6% while the SPY ETF gained +25.9%. SNPS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -5.7% and -5.0%, respectively, while the SPY returned +3.7% and -1.8%, respectively.

SNPS support price is $486.38 and resistance is $505.26 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SNPS shares will trade within this expected range on the day.