Shares of Synopsys Inc. (NASDAQ:SNPS) reached a new 52-week high during trading on Friday . The company traded as high as $54.59 and last traded at $54.24, with a volume of 625,726 shares trading hands. The stock had previously closed at $53.82.

A number of research firms have commented on SNPS. Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada began coverage on shares of Synopsys in a report on Monday, June 6th. They issued an “outperform” rating and a $64.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.43.

The company has a market capitalization of $8.24 billion and a PE ratio of 36.22. The firm’s 50 day moving average is $52.32 and its 200-day moving average is $47.31.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 18th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The company had revenue of $605.01 million for the quarter, compared to analysts’ expectations of $601.97 million. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Analysts expect that Synopsys Inc. will post $2.99 earnings per share for the current fiscal year.

In other Synopsys news, Director Deborah A. Coleman sold 2,000 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $53.30, for a total value of $106,600.00. Following the sale, the director now owns 44,019 shares of the company’s stock, valued at $2,346,212.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian M. Beattie sold 40,700 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $52.55, for a total transaction of $2,138,785.00. Following the completion of the sale, the chief accounting officer now directly owns 60,127 shares in the company, valued at approximately $3,159,673.85. The disclosure for this sale can be found here.

Other hedge funds have made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Synopsys by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 45,213 shares of the company’s stock valued at $2,062,000 after buying an additional 193 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Synopsys by 2.8% in the fourth quarter. Advisors Asset Management Inc. now owns 31,057 shares of the company’s stock valued at $1,417,000 after buying an additional 854 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Synopsys by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 221,808 shares of the company’s stock valued at $10,117,000 after buying an additional 1,221 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Synopsys by 5.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 45,537 shares of the company’s stock valued at $2,077,000 after buying an additional 2,480 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Synopsys by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 29,345 shares of the company’s stock valued at $1,339,000 after buying an additional 2,664 shares during the period.

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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