Shares of Synopsys Inc. (NASDAQ:SNPS) traded at a new 12-month high today of $365.65. So far today approximately 113,000 shares have been exchanged, as compared to an average 30-day volume of 606,000 shares.
Synopsys was founded in December 1986 (called Optimal Solutions until 1987) and is a market leader in electronic design automation software. EDA is used to automate the design and verification of integrated circuits or larger chip systems. The firm provides an end-to-end workflow of EDA products. In addition, the firm offers a broad set of design intellectual property and leading software integrity tools that help customers develop secure, quality code. Historically, the firm’s tools have been relied upon by semiconductor firms, but there has been a shift toward other nontraditional “systems” users (nonsemiconductor firms interested in chip design) given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing.
Synopsys Inc. is currently priced 13.9% above its average consensus analyst price target of $302.46.
Synopsys Inc. share prices have moved between a 12-month high of $365.65 and a 12-month low of $217.69 and are now trading 61% above that low price at $351.39 per share.
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