Synopsys (SNPS) : The money flow analysis of Synopsys (SNPS) indicates a $2.36 million of outflow was on downticks, whereas, the investors on Tuesday gobbled up stocks worth $4.62 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.96 and so was the total money flow at $2.26 million. The bulls lapped up $1.5 million worth of block trades on upticks. The money flow was $1.5 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Synopsys (SNPS), pushing it down by -0.23% for the day. The stock slid $0.14 and traded at $59.16 during the day. Nonetheless, the stock is 0.03% over the previous weeks close.
Also, Brokerage firm Pacific Crest maintains its rating on Synopsys (NASDAQ:SNPS). As per the latest information, the brokerage house raises the price target to $64 per share from a prior target of $60. The shares have been rated Overweight. The rating by the firm was issued on August 18, 2016.
Shares of Synopsys Inc. rose by 0.25% in the last five trading days and 8.3% for the last 4 weeks. Synopsys Inc. is up 13.66% in the last 3-month period. Year-to-Date the stock performance stands at 29.53%.
Synopsys (NASDAQ:SNPS): The stock opened at $59.45 on Tuesday but the bulls could not build on the opening and the stock topped out at $59.59 for the day. The stock traded down to $59.03 during the day, due to lack of any buying support eventually closed down at $59.08 with a loss of -0.35% for the day. The stock had closed at $59.29 on the previous day. The total traded volume was 868,177 shares.
In a related news, Beattie Brian M, officer (EVP, Business Ops. & CAO) of Synopsys Inc, unloaded 29,300 shares at an average price of $52.18 on June 13, 2016. The total amount of the transaction was worth $1,528,874, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Synopsys, Inc. is engaged in providing technology solutions used to develop electronics and electronic systems. It supplies the electronic design automation (EDA) software that engineers use to design, create prototypes for and test integrated circuits, also known as chips. It also supplies software and hardware used to develop the systems that incorporate integrated circuits and the software that runs on those integrated circuits. Its intellectual property (IP) products are pre-designed circuits that engineers use as components of larger chip designs rather than redesigning those circuits themselves. It also provides technical services to support its solutions and it help its customers develop chips and electronic systems.