• Return to Headlines

Shares of Synopsys Inc Has Risen Above Previous 52-Week High

By James Quinn

Synopsys Inc (NASDAQ:SNPS) traded at a new 52-week high today of $79.98. Approximately 78,000 shares have changed hands today, as compared to an average 30-day volume of 749,000 shares.

Potential upside of 5.1% exists for Synopsys Inc, based on a current level of $79.66 and analysts' average consensus price target of $83.71. The stock should discover initial support at its 50-day moving average (MA) of $47.53 and subsequent support at its 200-day MA of $47.17.

Synopsys, Inc. supplies electronic design automation solutions to the global electronics market. The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.

Over the past year, Synopsys Inc has traded in a range of $50.97 to $79.98 and is now at $79.66, 56% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Synopsys Inc on January 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.82. Since that recommendation, shares of Synopsys Inc have risen 28.8%. We continue to monitor SNPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows synopsys inc

Ticker(s): SNPS