Stock News Recap:- Synopsys, Inc. (NASDAQ:SNPS)

Synopsys, Inc. (NASDAQ:SNPS) closed with change of 0.27% to $82.96 with the total traded volume of 729708 shares versus to an average volume of 1.05M. The stock was up in the 5 days activity 0.80%. The one month performance of stock was -3.83%. SNPS  shares are -4.71% for the quarter and driving a 15.25% rally over the course of the past year and is now -2.67% since this point in 2018.  Right now SNPS beta is 1.08. The average volatility for the week and month was at 2.55% 2.08% respectively.

Synopsys, Inc. (NASDAQ:SNPS) reported that its Board of Directors has replenished its existing stock repurchase authorization back to $500 million.

“The replenishment of our repurchase authorization reinforces our ongoing commitment to generate sustainable, long-term shareholder value,” said Trac Pham, chief financial officer of Synopsys. “We continue to execute well on our strategy to balance strategic investments to grow the business and return capital to stockholders.”

Synopsys’ Board of Directors originally approved the stock repurchase program in 2002 and has periodically replenished the program as funds are spent.  The program does not obligate Synopsys to acquire any particular amount of common stock, and the program may be suspended or terminated at any time at Synopsys’ discretion.

Shares of Synopsys, Inc. have been recently spotted trading -12.49% off of the 52-week high price. On the other end, company shares have been noted 17.59% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 70.55 – 94.80. Switching over to some distances from popular moving averages, we see that the stock has been recorded -4.60% away from the 50 day moving average and -0.55% away from the 200 day moving average. Moving closer, we can see that shares have been trading -3.05% off of the 20-day moving average.

Gary Simmons

Gary Simmons is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 10 years of investment experience, an M.B.A. from Louisiana State University, and is also certified in Risk Management Assurance. Gary is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Business News category for our site. Address: 3274 Dennison Street, Modesto, California Email: Gary@newscontrol.info

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