Synopsys Inc. (NASDAQ:SNPS)’s share price hit a new 52-week high 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 equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. KeyCorp upped their target price 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. Pacific Crest increased 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. Benchmark Co. increased their price objective on shares of Synopsys from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, Needham & Company LLC increased their price objective on shares of Synopsys from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.00.

The stock’s 50 day moving average price is $55.87 and its 200 day moving average price is $50.85. The stock has a market cap of $8.94 billion and a P/E ratio of 37.68.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. During the same period last year, the firm posted $0.63 earnings per share. The company earned $615.20 million during the quarter, compared to the consensus estimate of $602.89 million. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts predict that Synopsys Inc. will post $3.02 earnings per share for the current year.

In other Synopsys news, VP Sudhindra Kankanwadi sold 3,409 shares of Synopsys stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $58.55, for a total value of $199,596.95. Following the completion of the sale, the vice president now directly owns 4,148 shares of the company’s stock, valued at $242,865.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian M. Beattie sold 40,700 shares of Synopsys stock in a transaction on Friday, June 10th. The shares were sold at an average price of $52.55, for a total transaction of $2,138,785.00. Following the completion of the sale, the chief accounting officer now directly owns 60,127 shares of the company’s stock, valued at $3,159,673.85. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Synopsys stock. KBC Group NV increased its stake in shares of Synopsys Inc. (NASDAQ:SNPS) by 78.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,856 shares of the company’s stock after buying an additional 19,730 shares during the period. KBC Group NV’s holdings in Synopsys were worth $2,046,000 as of its most recent SEC filing.

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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