Synopsys up 1%; other EDA stocks decline

SAN FRANCISCO — One day after it was revealed that the company would be removed from the Nasdaq 100 index, shares of Synopsys Inc. traded higher Tuesday (Dec. 13), while shares of other major EDA companies declined in a cautious day of Nasdaq trading.

Synopsys (Mountain View, Calif.), which is one of 12 companies that will be removed from the Nasaq 100 prior to trading on Dec. 19, saw its stock price increase by 20 cents per share, or nearly 1 percent Tuesday, closing at $20.77.

Giving back some gains made in recent days, shares of Cadence Design Systems. (San Jose, Calif.) dipped 22 cents, or 1.2 percent Tuesday, closing at $18.08.

Shares of a Mentor Graphics Corp. (Wilsonville, Ore.) were off 2 cents, or 0.2 percent, closing at $9.25.

Magma Design Automation Inc. (Santa Clara, Calif.) also declined Tuesday, slipping 11 cents, or nearly 1.3 percent to close at $8.43.

Overall, the Nasdaq composite index finished up more than 4 points, or nearly 0.2 percent, closing at nearly 2,265 Tuesday. Investors reportedly behaved cautiously Tuesday, weary of a possible Federal Reserve short term interest hike.