Synopsys, Inc.’s filing revealed that its GC & Corporate Secretary RUNKEL JOHN F JR unloaded Company’s shares for reported $3.08 million on Apr 03 ’24. In the deal valued at $579.37 per share,5,319 shares were sold. As a result of this transaction, RUNKEL JOHN F JR now holds 20,000 shares worth roughly $11.51 million.
Then, CASPER MARC N bought 750 shares, generating $439,087 in total proceeds. Upon buying the shares at $585.45, the Director now owns 1,736 shares.
Before that, VALLEE ROY sold 10,000 shares. Synopsys, Inc. shares valued at $5,726,595 were divested by the Director at a price of $572.66 per share. As a result of the transaction, VALLEE ROY now holds 20,000 shares, worth roughly $11.51 million.
Piper Sandler initiated its Synopsys, Inc. [SNPS] rating to an Overweight in a research note published on April 04, 2024; the price target was $665. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in late November has reiterated a ‘”a Buy”‘ rating for it. Morgan Stanley began covering SNPS with “an Overweight” recommendation on November 10, 2023. HSBC Securities started covering the stock on September 29, 2023. It rated SNPS as “a Buy”.
Price Performance Review of SNPS
On Friday, Synopsys, Inc. [NASDAQ:SNPS] saw its stock jump 1.47% to $575.45. Over the last five days, the stock has gained 0.69%. Synopsys, Inc. shares have risen nearly 11.76% since the year began. Nevertheless, the stocks have risen 49.49% over the past one year. While a 52-week high of $629.38 was reached on 02/22/24, a 52-week low of $360.36 was recorded on 01/05/24. SMA at 50 days reached $566.30, while 200 days put it at $501.28. A total of 0.77 million shares were traded, compared to the trading of 0.76 million shares in the previous session.
Levels Of Support And Resistance For SNPS Stock
The 24-hour chart illustrates a support level at 570.72, which if violated will result in even more drops to 565.99. On the upside, there is a resistance level at 579.54. A further resistance level may holdings at 583.63. The Relative Strength Index (RSI) on the 14-day chart is 51.10, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.69, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.90%. Stochastics %K at 36.00% indicates the stock is a holding.
How much short interest is there in Synopsys, Inc.?
A steep rise in short interest was recorded in Synopsys, Inc. stocks on Mar 15, 2024, dropping by -0.14 million shares to a total of 3.18 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.32 million shares. There was a decline of -4.4%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.09% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.02.
