Core Viewpoint - Synopsys (SNPS) stock is currently at a critical support zone, which has historically provided buying opportunities, leading to significant returns in the past [1][3] Summary by Category Price Action - SNPS is testing a price floor between $416.97 and $460.87, a level where it has previously bounced back four times in the last decade, generating nearly 30% average peak returns [1] Fundamentals - The company provides electronic design automation software and intellectual property solutions for integrated circuits, supporting various applications including USB, PCI Express, and Bluetooth [3] - Recent financial metrics show an 8.0% revenue growth over the last twelve months (LTM) and a 9.7% average growth over the last three years [7] - The free cash flow margin stands at nearly 20.2%, with an operating margin of 17.2% LTM [7] - SNPS trades at a price-to-earnings (PE) multiple of 35.2, indicating a relatively high valuation compared to the S&P [7] Market Performance - Despite strong fundamentals, SNPS has experienced significant declines during market downturns, including a 61% drop during the Dot-Com crash and a 49% decline during the Global Financial Crisis [5] - The stock also faced declines of approximately 34% during the COVID-19 pandemic and 31% during the Inflation Shock [5]