NEW YORK, May 16, 2026, 18:03 (EDT)
- Synopsys shares finished Friday at $502.42, off 1.49%. The stock dropped 2.72% across the last five sessions.
- Tech shares sold off, with the Nasdaq Composite down 1.54% and the Philadelphia semiconductor index off 4%.
- Synopsys will report fiscal Q2 results after the bell on May 27. That’s the next big date for the company.
Synopsys closed out the week with losses. The chip-design software maker got hit by Friday’s tech stock drop after Coatue Management lowered its stake, according to a new filing. Investors are waiting for the company’s May 27 results to get a clearer sense of demand.
Stock trading in the U.S. was shut down Saturday, with Nasdaq operating Monday to Friday, 9:30 a.m. to 4 p.m. Eastern. That leaves last week’s action and what’s ahead in view, instead of any new intraday swing.
Synopsys shares dropped 1.49% Friday to close at $502.42, moving between $491.05 and $509.00 during the session. The stock lost 2.72% this week. Still, it’s up 6.96% year to date, according to data from StockAnalysis and MarketScreener.
Synopsys holds a key spot as AI chip spending continues, and its move is important for the sector. The company provides EDA software—these are the tools chip engineers use before manufacturing. Cadence Design Systems, a competitor, lost 1.59% Friday, adding more pressure to the chip-design software names.
Stocks sold off on Friday. The S&P 500 slipped 1.24%, with the Dow down 1.07%. The Nasdaq lost 1.54%. Oil prices and bond yields pushed higher. “The market had gotten way ahead of itself,” Kenny Polcari, chief market strategist at Slatestone Wealth, told Reuters. Reuters
Coatue Management trimmed its Synopsys stake by 54.01%, down to 761,760 shares, according to its most recent 13F. That was about $302 million at the end of the quarter. The 13F gives a delayed look at U.S.-listed holdings.
Broker calls on Synopsys were mixed. Wells Fargo bumped its price target up to $505 from $450, but held its Equal Weight call, MarketScreener cited MT Newswires on May 14. Citigroup’s Kelsey Chia stayed Buy and raised the target to $600 from $580, Sahm Capital wrote on May 13.
Synopsys lines up for its earnings run this week. The company is set to release second-quarter fiscal 2026 results Wednesday, May 27, right after the bell. The earnings call is scheduled for 5 p.m. Eastern.
Investors are set to compare the numbers with Synopsys’ targets from February. The company has guided for second-quarter revenue of $2.225 billion to $2.275 billion and sees non-GAAP earnings per share, which strips out certain items, between $3.11 and $3.17.
Ansys is still the big long-term question. In February, Synopsys posted $2.409 billion in first-quarter revenue and non-GAAP EPS of $3.77, and kept its full-year forecast at $9.61 billion midpoint, with $2.9 billion of that from Ansys. CEO Sassine Ghazi said, “AI continues to fuel robust system-level and semiconductor R&D.” CFO Shelagh Glaser pointed to “strong execution and financial discipline.” Synopsys News Releases
The setup isn’t without problems. Synopsys said its targets depend on no new export-control rules. Back in February, Reuters said China export curbs, fewer new chip-designs, and weak demand from a big foundry hurt parts of the business. A weaker guide, slow Ansys integration or another selloff in AI names on rates could put pressure on the May 27 report.
At this point, the stock isn’t reacting to fresh company news but is moving on positioning, macro jitters and looming earnings. The drop on Friday hit the week hard. Numbers may be the next driver.
