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Synopsys shares see marginal gains amid market uptick

EditorMalvika Gurung
Published 10/24/2023, 11:16 PM
Updated 10/24/2023, 11:16 PM
© Reuters.

Shares of Synopsys (NASDAQ:SNPS) Inc. experienced a slight increase of 0.04%, closing at $468.03 per piece on Tuesday, in line with a broader market upswing that saw both the S&P 500 Index and the Dow Jones Industrial Average rise by 0.73% and 0.62%, respectively. This increment marked a second day of consecutive gains for the software company, although it still trailed $34.63 behind its annual peak of $502.66 reached on October 12, 2023.

In comparison to its rivals such as Applied Materials Inc (NASDAQ:AMAT). and Lam Research Corp (NASDAQ:LRCX)., Synopsys' growth was less substantial, indicating a more modest performance within the sector.

Trading volume for Synopsys on Tuesday tallied at 637,096, which is below the average volume recorded over the prior 50 days, suggesting a lower level of trading activity for the company's shares. Despite this relative quietude in trading activity, the firm has managed to maintain a steady upward trajectory in a buoyant market environment.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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