Synopsys (NASDAQ:SNPS) Stock, Quote.Headers.trade-ideas

Synopsys

Synopsys is a provider of electronic design automation software, intellectual property, and software integrity products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. The firm's growing SI business allows customers to continuously manage and test the code base for security and quality. Synopsys' comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack toward systems-like companies, and systems companies moving down-stack toward in-house chip design. The resulting expansion in EDA customers alongside secular digitalization of various end markets benefits EDA vendors like Synopsys.

Tainan,,Taiwan-,September,30,,2021:,Taiwan,Semiconductor,Manufacturing,Company,(tsmc)

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Taiwan Semi and chip industry leaders are fast-tracking silicon photonics for AI computing. Big tech giants support the development, debunking Trump&#39;s claims.

What&#39;s Going On With Taiwan Semiconductor Stock On Tuesday?

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Wall Street faced a downturn on Thursday as traders exercised caution ahead of Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday.

US Stocks Fall As Dollar, Treasury Yields Rise Ahead Of Fed&#39;s Jackson Hole; Oil Rebounds: What&#39;s Driving Markets Thursday?

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Index futures trading point to a slightly positive start on Thursday, with some key Main Street data likely directing the market. Sentiment could remain guarded as traders look ahead to the 3-day Jackson Hole Symposium that kickstarts on Thursday, with Federal Reserve Chairman Jerome Powell delivering his address on Friday. Earnings news has been mixed.

US Stocks Poised For Tepid Start Ahead Of Private Sector Activity Data And Jackson Hole Symposium: Analyst Says Market Is Focused On Nvidia Earnings And &#39;Waiting Is The Hardest Part&#39;

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Synopsys To Sell Optical Solutions Group To Keysight Technologies, Terms Not Disclosed

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Shares of software companies are trading higher amid overall market strength following Wednesday's Fed rate cut.

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Shares of companies within the broader technology sector are trading higher amid strength in the overall market, which may be gaining amid strength with NVIDIA and other chip stocks. At the ABC 2024 Presidential Debate, Vice President Harris said she wants to invest in American-based technology to win the race on AI and quantum computing.

ImSym - Imaging System Simulator Offers Accuracy, Accelerated Time-to-Market, and Enhanced Team Collaboration

Synopsys Launches ImSym

<ul>
<li>Industry&#39;s first complete 40G UCIe IP solution, including controller, PHY, and verification IP, enables fast connectivity between heterogeneous and homogeneous dies</li>
<li>Synopsys 40G UCIe PHY IP offers&nbsp;25%&nbsp;higher bandwidth than the UCIe specification without impact on energy efficiency and silicon footprint</li>
<li>Integrated signal integrity monitors and testability features improve multi-die package reliability and enable in-field monitoring throughout the silicon lifecycle</li>
<li>Synopsys 40G UCIe IP is built on a silicon-proven architecture with interoperability success in multiple advanced foundry processes</li>
</ul>

Reported Earlier, Synopsys Unveils Industry-First 40G UCIe IP Solution, Revolutionizing Die-to-Die Connectivity For AI Data Centers

Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) has outperformed the market over the past 5 years by 15.6% on an annualized basis producing an average annual return of 28.62%. Currently, Synopsys has a market capitalization of $73.12 billion. 
Buying $1000 In SNPS: If an investor had bought $1000 of SNPS stock 5 years ago, it would be worth $3,369.89 today based on a price of $476.03 for SNPS at the time of writing.
<h3>Synopsys's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725568214_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $3,400 Today

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Shares of software companies are trading lower amid overall market weakness. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction.

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and global chip designers&nbsp;and suppliers are accelerating the development of next-generation silicon photonic solutions over the next three to five years to address the massive energy and faster data transmission speeds needed by AI computing.
Building an ecosystem for the technology mandated participation from design software suppliers Synopsys, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) and Cadence Design Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) and chip developers Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), AI server makers Foxconn and Quanta Computer, K.C. Hsu, vice president of integrated interconnect and packaging at Taiwan Semiconductor <a target="_blank" href="https://asia.nikkei.com/Business/Technology/TSMC-aims-to-ready-next-gen-silicon-photonics-for-AI-in-5-years#:~:text=TAIPEI%20%2D%2D%20Taiwan%20Semiconductor%20Manufacturing,next%20three%20to%20five%20years." rel="noreferrer noopener">told</a> Nikkei Asia at a technology forum. Taiwan Semiconductor stock is trading lower on Tuesday premarket.
Hsu told Nikkei Asia that the silicon photonics market will grow at an annual compound rate of 40%, between 2023-28 to $500 million thanks to the demand for high data rate modules for increased fiber-optic network capacity, especially pluggable and co-packaged optics (CPO).
Rachid Taibi, general manager of the business unit at chip materials provider Soitec, told Nikkei that big tech giants, including Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), are among those backing CPO technology development.
Taiwan&#8217;s Economy Minister, Kuo Jyh-huei, <a target="_blank" href="https://www.benzinga.com/news/24/09/40673345/trump-misunderstands-taiwans-role-in-chip-industry-says-economy-minister-the-president-has-a-lot-on" rel="noreferrer noopener">recently countered former</a> President Donald Trump&#8217;s claims that Taiwan had taken away American semiconductor jobs. He flagged Taiwan Semiconductor&#8217;s significant investments in U.S. facilities, including $65 billion for new plants in Arizona.
Taiwan Semiconductor stock gained 82% in the last 12 months. Investors can gain exposure to the stock through iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) and First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDIV#NASDAQ">TDIV</a>).
Price Action:&nbsp;TSM stock is down 1.77% at $168.66 premarket at the last check Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40576490/taiwan-semiconductor-leads-foundry-market-samsung-and-intel-ramp-up-advanced-process-efforts-report" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor Leads Foundry Market, Samsung and Intel Ramp Up Advanced Process Efforts: Report</a></li>
</ul>
Photo by Jack Hong via Shutterstock

What's Going On With Taiwan Semiconductor Stock On Tuesday?

Synopsys's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NYSE">SNPS</a>) short percent of float has fallen 15.2% since its last report. The company recently reported that it has 3.23 million shares sold short, which is 2.12% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.37 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Synopsys Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724425220_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Synopsys has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Synopsys's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Synopsys's peer group average for short interest as a percentage of float is 2.66%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

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(SNPS) - Analyzing Synopsys's Short Interest

Rosenblatt analyst Blair Abernethy maintains Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) with a Buy and maintains $635 price target.

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Rosenblatt Maintains Buy on Synopsys, Maintains $635 Price Target

Wall Street faced a downturn on Thursday as traders exercised caution ahead of Federal Reserve Chair Jerome Powell&#8217;s speech at the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40466528/jackson-hole-preview-5-important-questions-ahead-of-jerome-powells-fed-speech"> Jackson Hole Symposium on Friday.</a>
Powell is anticipated to signal a potential rate cut in September, but market sentiment currently favors a smaller 25-basis-point reduction rather than a more substantial 50-basis-point cut.
On Thursday, economic data indicated that U.S. private sector activity surpassed expectations in August, according to the S&amp;P Global flash Purchasing Managers&#8217; Index (PMI). The growth was primarily driven by the services sector, which more than compensated for <a href="https://www.benzinga.com/news/24/08/40509090/august-services-growth-exceeds-expectations-as-manufacturing-slumps-inflation-gradually-eases-to-nor">the faster contraction in manufacturing.</a>
Major U.S. equity indices traded lower throughout the session, while the dollar and Treasury yields rebounded after four consecutive days of losses. 
The U.S. dollar rose nearly 0.4% against a basket of major currencies, and the yield on the 10-year Treasury note climbed six basis points. As a result, bonds fell, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dropping 1.2%.
The energy sector emerged as the day&#8217;s top performer, buoyed by a more than 2% surge in oil prices. In contrast, natural gas plunged over 6% due to higher-than-expected inventory builds.
Gold also took a hit, declining over 1% and falling below the $2,500 per ounce threshold, weighed down by the strength of the dollar and rising Treasury yields. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1% to $60,000, failing to keep up with the Wednesday&#8217;s bullish momentum, which saw the largest cryptocurrency rise 3.6%.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,830.40</td>
<td>-0.1 %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,172.03</td>
<td>-0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,608.27</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,735.54</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated At 12:41 p.m. ET</figcaption></figure>
According to Benzinga Pro data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% lower to $559.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 0.1% to $408.78.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.4% to $480.73.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.2% lower to $215.03.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, by 0.6%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) plummeted 12% as the<a href="https://www.benzinga.com/top-stories/24/08/40511947/investors-are-further-confused-on-snowflake-one-analyst-says-they-know-why"> guidance disappointed despite the company</a> reported stronger-than-expected results last quarter.</li>
<li>Other stocks reacting to corporate earnings were Zoom Video Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) up 13%; Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) down 1.77%; Agilent Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) up 0.36%; Nordson Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) up 2.06%, Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) down 7%; Viking Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>), down 3.81% and BJs Wholesale Club Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>), down 6.29%.</li>
<li>Major companies slated to report quarterly results after the close include Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROSS#NASDAQ">ROSS</a>), CAVA Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) and BILL Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>). </li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/markets/esg/24/08/40512436/rivian-hits-rough-patch-production-halts-leadership-shake-ups-dent-stock">Rivian Hits Rough Patch: Production Halts, Leadership Shake-Ups Dent Stock</a></li>
</ul>
Photo: Shutterstock

US Stocks Fall As Dollar, Treasury Yields Rise Ahead Of Fed's Jackson Hole; Oil Rebounds: What's Driving Markets Thursday?

JP Morgan analyst Harlan Sur maintains Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) with a Overweight and raises the price target from $655 to $685.

JP Morgan Maintains Overweight on Synopsys, Raises Price Target to $685

General

Synopsys shares are trading higher after the company reported better-than-expected Q3 financial results and issued Q4 guidance above estimates. Also, Baird raised its price target on the stock from $661 to $663.

Baird analyst Joe Vruwink maintains Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) with a Outperform and raises the price target from $661 to $663.

Baird Maintains Outperform on Synopsys, Raises Price Target to $663

Needham analyst Charles Shi reiterates Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) with a Buy and maintains $640 price target.

Reiteration

Needham Reiterates Buy on Synopsys, Maintains $640 Price Target

Index futures trading point to a slightly positive start on Thursday, with some key Main Street data likely directing the market. Sentiment could remain guarded as traders look ahead to the 3-day Jackson Hole Symposium that kickstarts on Thursday, with Federal Reserve Chairman Jerome Powell delivering his address on Friday. Earnings news has been mixed. With traders baking in a September rate cut, the near-term catalyst is likely to be Nvidia, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings due next week.
&#8220;Move over, Fed, it's all about Nvidia's earnings on August 28th. The waiting is the hardest part,&#8221; said Gina Bolvin, President of Bolvin Wealth Management Group.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.07%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.06%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.07%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.20%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.16% to $561.50, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.18% to $483.38, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session: 
U.S. stocks ended Wednesday&#8217;s session higher, rebounding from the previous session&#8217;s slide, as traders relished the dovish message from the Federal Open Market Committee&#8217;s July meeting minutes and the Bureau of Labor Statistics&#8217; annual revision taking down the non-farm payroll numbers sharply.
The Nasdaq Composite and the S&amp;P 500 Index stayed mostly above the unchanged line, while the Dow Jones Industrial Average was relatively more volatile. All three closed firmly in the green. Small-caps outperformed the major indices, with the Russell 2,000 advancing 1.32%.
The S&amp;P 500 is now closing in on its all-time high of 5,667.20 hit on July 16 and the Nasdaq Composite ended at its highest levels since July 17.
Most S&amp;P 500 sectors, baring energy and financials, ended higher for the day, with consumer discretionary and material stocks seeing particular strength.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.57%</td>
<td>17,918.99</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.42%</td>
<td> 5,620.85</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.14%</td>
<td>40,890.49</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.32%</td>
<td>2,170.56</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
In a report released ahead of BLS&#8217; annual revision, Morgan Stanley&#8217;s Lisa Shalett said Wall Street analysts' current profit estimates appear ambitious, calling for accelerating and double-digit growth rates over the next six quarters, even as margins are already near record highs.
She said slowing nominal GDP will hurt companies&#8217; pricing power and profitability, adding that gains from falling costs and the advantages of a strong U.S. dollar may also fade. If companies choose to cut labor, in response, and job losses rise significantly, it could put the soft landing at risk, she added.
Carson Group&#8217;s Ryan Detrick noted that the S&amp;P 500 Index has been above the 200-day moving average for more than 200 days now. This has happened three times in the past and on those three instances, the index stayed above the 200-day MA for another 277 days, 242 days, and 195 days, he said. &#8220;If you are bearish b/c this is a long rally, be careful,&#8221; he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">S&amp;P 500 above the 200-day MA for more than 200 days (ok 201 to be exact). Sounds like a lot, right? Past 3 times it got to 200 days it stayed above for another 277 days, 242 days, and 195 days. In other words, if you are bearish b/c this is a long rally, be careful. <a href="https://t.co/43AgD1RQUD">pic.twitter.com/43AgD1RQUD</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1826462026203308204?ref_src=twsrc%5Etfw">August 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data
<ul>
<li>The Labor Department is scheduled to release the weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 230,000 for the week ended Aug. 17, up from 227,000 in the previous reporting week.</li>
<li>S&amp;P Global will release its flash manufacturing and service sector purchasing managers&#8217; indices for August at 9:45 a.m. EDT. The consensus estimates call for the manufacturing PMI to edge down from 49.6 in July to 49.5 in August, and the service PMI is expected at 54 for August, down from 55 in July.</li>
<li>The National Association of Realtors is due to release the existing home sales report for July at 10 a.m. EDT. Existing home sales may have come in at a seasonally adjusted annual rate of 3.94 million units for July, up from June&#8217;s 3.89 million units.</li>
<li>The Treasury will auction four- and eight-week notes at 11:30 a.m. EDT and 30-year TIPS at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus:
<ul>
<li>Agilent Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) rose over 2% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results announcement. </li>
<li>Among the other stocks moving on earnings are Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) (down over 10%), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) )down over 9%), Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) (up over 7.50%), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) (up over 8%), Synopsys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) (up over 2%), and Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) (up over 3.50%).</li>
<li>Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>), Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), NetEase, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>), BJ&#8217;s Wholesale Club Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>), Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>), Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) and Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies due to release their quarterly results</a> before the market opens.</li>
<li>Those reporting earnings after the close include BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>), CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>), Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) and Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>).</li>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) <a href="https://www.benzinga.com/markets/equities/24/08/40500034/charles-schwab-shares-drop-over-4-after-hours-as-td-bank-cuts-stake-following-2-6b-anti-money-la">slipped over 4% </a>after Toronto-Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TD#NYSE">TD</a>) sold shares in the former to provision for $2.6 billion in potential fines from U.S. regulators.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose marginally, while gold futures slipped further away from their record high. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose following the FOMC minutes and approached the $61K level and the yield on the 10-year Treasury note rose 4.2 basis points to 3.818%.
The Asian markets had a mixed session, while European stocks were higher in early trading on Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40501889/nvidia-stock-to-surge-to-340-in-medium-term-portfolio-manager-sees-strong-rally-int">Nvidia Stock To Surge To $340 In Medium Term? Portfolio Manager Sees Strong Rally Interspersed By 35-80% Pullbacks</a></li>
</ul>
Photo via Shutterstock

US Stocks Poised For Tepid Start Ahead Of Private Sector Activity Data And Jackson Hole Symposium: Analyst Says Market Is Focused On Nvidia Earnings And 'Waiting Is The Hardest Part'

Piper Sandler analyst Clarke Jeffries reiterates Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) with a Overweight and maintains $687 price target.

Piper Sandler Reiterates Overweight on Synopsys, Maintains $687 Price Target

Guidance

Synopsys Sees Q4 Adj. EPS $3.27-$3.32 vs $3.23 Est., Revenue 1.614B-$1.644B vs $1.61B Est.; Sees FY24 Adj. EPS $13.07-$13.12 vs $13.08 Est., Revenue $6.105B-$6.135B vs $6.13B Est.

Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) reported quarterly earnings of $3.43 per share which beat the analyst consensus estimate of $3.28 by 4.57 percent. The company reported quarterly sales of $1.526 billion which beat the analyst consensus estimate of $1.519 billion by 0.47 percent. This is a 2.62 percent increase over sales of $1.487 billion the same period last year.

Earnings Beats

Synopsys Q3 2024 Adj. EPS $3.43 Beats $3.28 Estimate, Sales $1.526B Beat $1.519B Estimate

Financial giants have made a conspicuous bullish move on Synopsys. Our analysis of options history for Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) revealed 16 unusual trades.
Delving into the details, we found 68% of traders were bullish, while 18% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $770,029, and 9 were calls, valued at $599,149.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $510.0 to $650.0 for Synopsys over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Synopsys's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Synopsys's substantial trades, within a strike price spectrum from $510.0 to $650.0 over the preceding 30 days.
<h3>Synopsys Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724265053_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$19.7</td>
<td>$18.9</td>
<td>$18.9</td>
<td>$550.00</td>
<td>$272.1K</td>
<td>1.4K</td>
<td style="text-align: right;">262</td>
</tr>
<tr>
<td>SNPS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$24.2</td>
<td>$23.4</td>
<td>$23.5</td>
<td>$560.00</td>
<td>$180.9K</td>
<td>299</td>
<td style="text-align: right;">177</td>
</tr>
<tr>
<td>SNPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$48.2</td>
<td>$45.8</td>
<td>$48.3</td>
<td>$600.00</td>
<td>$178.7K</td>
<td>100</td>
<td style="text-align: right;">128</td>
</tr>
<tr>
<td>SNPS</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$4.3</td>
<td>$3.1</td>
<td>$3.8</td>
<td>$650.00</td>
<td>$142.5K</td>
<td>24</td>
<td style="text-align: right;">507</td>
</tr>
<tr>
<td>SNPS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$42.0</td>
<td>$41.3</td>
<td>$41.3</td>
<td>$540.00</td>
<td>$111.5K</td>
<td>164</td>
<td style="text-align: right;">31</td>
</tr>
</tbody>
</table>

<h3>About Synopsys</h3>
Synopsys is a provider of electronic design automation software, intellectual property, and software integrity products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. The firm's growing SI business allows customers to continuously manage and test the code base for security and quality. Synopsys' comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack toward systems-like companies, and systems companies moving down-stack toward in-house chip design. The resulting expansion in EDA customers alongside secular digitalization of various end markets benefits EDA vendors like Synopsys.
Following our analysis of the options activities associated with Synopsys, we pivot to a closer look at the company's own performance.
<h3>Current Position of Synopsys</h3>
<ul>
<li>With a trading volume of 354,295, the price of SNPS is up by 1.52%, reaching $565.49.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 0 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Synopsys</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $635.0.
<ul>
<li>An analyst from Rosenblatt persists with their Buy rating on Synopsys, maintaining a target price of $635. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Synopsys, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

What the Options Market Tells Us About Synopsys

16 out of 21 companies reporting yesterday opened down - here is the list

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Synopsys (NASDAQ:<a href="https://investorplace.com/stock-quotes/snps-stock-quote/">SNPS</a>) just reported results for the third quarter of 2024.<ul><li>Synopsys reported earnings per share of $3.43. This was above the analyst estimate for EPS of $3.28.</li><li>The company reported revenue of $1.53 billion.</li><li>This was 0.39% better than the analyst estimate for revenue of $1.52 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/snps-stock-earnings-synopsys-for-q3-of-2024/">SNPS Stock Earnings: Synopsys Beats EPS, Beats Revenue for Q3 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

SNPS Stock Earnings: Synopsys Beats EPS, Beats Revenue for Q3 2024

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