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Investing in Synopsys, Inc. (SNPS) Is Getting More Attractive

In a filing, Synopsys, Inc. revealed its EXECUTIVE CHAIR DE GEUS AART unloaded Company’s shares for reported $4.92 million on Jun 27 ’24. In the deal valued at $602.59 per share,8,158 shares were sold. As a result of this transaction, DE GEUS AART now holds 106,983 shares worth roughly $64.38 million.

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Then, DE GEUS AART sold 2,899 shares, generating $1,741,062 in total proceeds. Upon selling the shares at $600.57, the EXECUTIVE CHAIR now owns 106,983 shares.

Before that, DE GEUS AART sold 4,212 shares. Synopsys, Inc. shares valued at $2,527,414 were divested by the EXECUTIVE CHAIR at a price of $600.05 per share. As a result of the transaction, DE GEUS AART now holds 106,983 shares, worth roughly $64.38 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 Monday, Synopsys, Inc. [NASDAQ:SNPS] saw its stock jump 1.12% to $601.75. Over the last five days, the stock has gained 1.03%. Synopsys, Inc. shares have risen nearly 16.87% since the year began. Nevertheless, the stocks have risen 40.63% over the past one year. While a 52-week high of $629.38 was reached on 02/22/24, a 52-week low of $418.51 was recorded on 01/05/24. SMA at 50 days reached $567.99, while 200 days put it at $537.27. A total of 0.61 million shares were traded, compared to the trading of 1.02 million shares in the previous session.

Levels Of Support And Resistance For SNPS Stock

The 24-hour chart illustrates a support level at 592.24, which if violated will result in even more drops to 582.72. On the upside, there is a resistance level at 607.85. A further resistance level may holdings at 613.95. The Relative Strength Index (RSI) on the 14-day chart is 58.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.85%. Stochastics%K at 53.87% indicates the stock is a holding.

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