Synopsys Inc. (NASDAQ:SNPS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $56.29 and last traded at $56.21, with a volume of 267,065 shares traded. The stock had previously closed at $55.74.

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

The stock has a market capitalization of $8.48 billion and a price-to-earnings ratio of 37.29. The firm’s 50 day moving average price is $54.55 and its 200 day moving average price is $49.64.

In related news, CAO Brian M. Beattie sold 40,700 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 60,127 shares of the company’s stock, valued at approximately $3,159,673.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel John F. Runkel, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $52.34, for a total value of $785,100.00. Following the completion of the sale, the general counsel now directly 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 large investors recently bought and sold shares of SNPS. Advisors Asset Management Inc. raised its stake in Synopsys by 2.8% in the fourth quarter. Advisors Asset Management Inc. now owns 31,057 shares of the company’s stock worth $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 worth $2,046,000 after buying an additional 19,730 shares during the last quarter. 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 worth $2,888,000 after buying an additional 23,002 shares during the last quarter. Bernzott Capital Advisors raised its stake in Synopsys by 21.0% in the fourth quarter. Bernzott Capital Advisors now owns 458,934 shares of the company’s stock worth $20,932,000 after buying an additional 79,494 shares during the last quarter. 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 worth $32,650,000 after buying an additional 364,673 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.