Synopsys Inc. (NASDAQ:SNPS)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $59.52 and last traded at $59.42, with a volume of 269,543 shares. The stock had previously closed at $59.14.

A number of brokerages recently 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. Pacific Crest boosted their price objective on shares of Synopsys from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, August 18th. DA Davidson boosted their price objective on shares of Synopsys from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Benchmark Co. lifted their price target on shares of Synopsys from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 18th. Finally, Royal Bank Of Canada initiated coverage on shares of Synopsys in a report on Monday, June 6th. They issued an “outperform” rating and a $64.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Synopsys presently has an average rating of “Buy” and an average price target of $61.00.

The firm’s 50 day moving average price is $55.61 and its 200 day moving average price is $50.46. The company has a market cap of $8.99 billion and a PE ratio of 37.88.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. During the same period in the previous year, the business posted $0.63 EPS. The company had revenue of $615.20 million for the quarter, compared to analysts’ expectations of $602.89 million. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Synopsys Inc. will post $3.02 EPS for the current fiscal year.

In other Synopsys news, Chairman Geus Aart De sold 306,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $58.39, for a total transaction of $17,867,340.00. Following the sale, the chairman now directly owns 159,791 shares in the company, valued at approximately $9,330,196.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sudhindra Kankanwadi sold 3,409 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $58.55, for a total transaction of $199,596.95. Following the sale, the vice president now owns 4,148 shares in the company, valued at $242,865.40. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Synopsys stock. Connor Clark & Lunn Investment Management Ltd. raised its position in Synopsys Inc. (NASDAQ:SNPS) by 312.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,225 shares of the company’s stock after buying an additional 25,925 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Synopsys were worth $1,561,000 at the end of the most recent 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.