Synopsys Inc. (NASDAQ:SNPS) hit a new 52-week high during trading on Monday . The stock traded as high as $55.32 and last traded at $55.19, with a volume of 252,727 shares changing hands. The stock had previously closed at $55.16.

Several equities research analysts have recently commented on SNPS shares. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, April 19th. Royal Bank Of Canada started 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.29.

The firm has a market capitalization of $8.37 billion and a price-to-earnings ratio of 36.82. The stock’s 50-day moving average price is $53.95 and its 200-day moving average price is $48.81.

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

In other Synopsys news, CAO Brian M. Beattie sold 40,700 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of $52.55, for a total transaction of $2,138,785.00. Following the transaction, the chief accounting officer now owns 60,127 shares in the company, valued at approximately $3,159,673.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John F. Runkel, Jr. sold 15,000 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $52.34, for a total value of $785,100.00. Following the transaction, the general counsel now owns 20,109 shares in the company, valued at approximately $1,052,505.06. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of SNPS. Advisors Asset Management Inc. boosted its position in 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 last quarter. KBC Group NV raised its stake in Synopsys by 78.5% in the fourth quarter. KBC Group NV now owns 44,856 shares of the company’s stock valued at $2,046,000 after buying an additional 19,730 shares during the period. Gulf International Bank UK Ltd raised its stake in 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. Cornerstone Capital Management Holdings LLC. raised its stake in Synopsys by 57.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 63,328 shares of the company’s stock valued at $2,888,000 after buying an additional 23,002 shares during the period. Finally, Morgan Stanley raised its stake in Synopsys by 103.8% in the fourth quarter. Morgan Stanley now owns 715,862 shares of the company’s stock valued at $32,650,000 after buying an additional 364,673 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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