Synopsys Inc. (NASDAQ:SNPS)’s share price hit 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 traded. The stock had previously closed at $53.82.

A number of brokerages have commented on SNPS. Zacks Investment Research downgraded shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 13th. Royal Bank Of Canada began coverage on shares of Synopsys in a research note on Monday, June 6th. They issued an “outperform” rating and a $64.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $55.43.

The firm has a market cap of $8.24 billion and a PE ratio of 36.21. The stock’s 50-day moving average price is $52.48 and its 200-day moving average price is $47.38.

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

In other Synopsys news, Director Alfred Castino sold 5,000 shares of Synopsys stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $53.24, for a total transaction of $266,200.00. Following the transaction, the director now directly owns 37,982 shares of the company’s stock, valued at $2,022,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 2,000 shares of Synopsys stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $49.65, for a total transaction of $99,300.00. Following the transaction, the chief executive officer now directly owns 195,935 shares in the company, valued at $9,728,172.75. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in shares of Synopsys by 103.8% in the fourth quarter. Morgan Stanley now owns 715,862 shares of the company’s stock worth $32,650,000 after buying an additional 364,673 shares during the period. Gulf International Bank UK Ltd increased its position 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 worth $2,077,000 after buying an additional 2,480 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position 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 worth $2,062,000 after buying an additional 193 shares during the period. SECOR Capital Advisors LP purchased a new position in shares of Synopsys during the fourth quarter worth approximately $2,045,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Synopsys by 11.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,020,333 shares of the company’s stock worth $46,537,000 after buying an additional 106,652 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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