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

SNPS has been the subject of a number of research reports. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, April 19th. Royal Bank Of Canada initiated coverage on Synopsys in a research note on Monday, June 6th. They set an “outperform” rating and a $64.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Synopsys currently has an average rating of “Buy” and a consensus price target of $56.29.

The company has a market capitalization of $8.36 billion and a price-to-earnings ratio of 36.739. The stock’s 50 day moving average is $54.10 and its 200-day moving average is $49.14.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 18th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company earned $605.01 million during the quarter, compared to analyst estimates of $601.97 million. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Synopsys Inc. will post $2.99 earnings per share for the current fiscal year.

In other news, CAO Brian M. Beattie sold 40,700 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $52.55, for a total value of $2,138,785.00. Following the completion of the transaction, the chief accounting officer now owns 60,127 shares of the company’s stock, valued at approximately $3,159,673.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alfred Castino sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $53.24, for a total value of $266,200.00. Following the completion of the transaction, the director now directly owns 37,982 shares of the company’s stock, valued at approximately $2,022,161.68. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of SNPS. Gulf International Bank UK Ltd boosted 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 valued at $2,077,000 after buying an additional 2,480 shares during the period. Morgan Stanley boosted 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 valued at $32,650,000 after buying an additional 364,673 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of 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. Wells Fargo & Company MN boosted its position in shares of Synopsys by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,628,226 shares of the company’s stock valued at $74,263,000 after buying an additional 130,949 shares during the period. Finally, Advisors Asset Management Inc. boosted its position 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.

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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