Technology Sector Ideas

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>>> Synopsys - 10 recession stocks -


https://finance.yahoo.com/news/10-companies-industries-money-during-165619500.html


Industry: Information Technology

S&P 500 Outperformance in 2008: 9.9%

Synopsys, Inc. (NASDAQ:SNPS) is an application software company providing electronic design automation software products used in the design and testing of integrated circuits. The company is based in Mountain View, California.

Peter Sazel at Atlantic Equities re-initiated coverage of Synopsys, Inc. (NASDAQ:SNPS) shares on January 17 with an Overweight rating and a $390 price target.

Synopsys, Inc. (NASDAQ:SNPS) is a leading technology company that offers a platform for the testing of semiconductor chips and software applications. Analysts consider the semiconductor industry to be a secular growth market, meaning the demand for chip testing and designing services is likely to remain constant even during recessions. This belief is supported by the performance of Synopsys, Inc. (NASDAQ:SNPS) during the 2008 recession when the company outperformed the S&P 500 by 9.9%. Even during the market downturn in 2020, the company outperformed the S&P 500 by 70%.

TimesSquare Capital Management, an equity investment management company, mentioned Synopsys, Inc. (NASDAQ:SNPS) in its third-quarter 2022 investor letter. Here's what the firm said:

“New to the strategy this quarter was Synopsys, Inc. (NASDAQ:SNPS), a provider of electronic design automation software products used to design and test integrated circuits. The electronic design automation market is a essentially a duopoly with one other major player in the space. As such, the barriers to entry are very high and will likely remain that way due to rising chip complexity.”

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