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

Synopsys is a provider of electronic design automation software, intellectual property, and software integrity products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. The firm's growing SI business allows customers to continuously manage and test the code base for security and quality. Synopsys' comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack 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 November 21, 2024, SNPS stock price climbed to $545.18 with 44,409 million shares trading.

SNPS has a beta of 2.21, meaning it tends to be more sensitive to market movements. SNPS has a correlation of 0.63 to the broad based SPY ETF.

SNPS has a market cap of $83.75 billion. This is considered a Large Cap stock.

Last quarter Synopsys reported $2 billion in Revenue and $3.43 earnings per share. This beat revenue expectation by $6 million and exceeded earnings estimates by $.15.

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, IVV.

SNPS has underperformed the market in the last year with a price return of +0.7% while the SPY ETF gained +31.3%. SNPS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -2.1% and -1.4%, respectively, while the SPY returned +5.8% and -0.3%, respectively.

SNPS support price is $528.45 and resistance is $554.67 (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.