Synopsys Stock Hits New 52-Week High (SNPS)

NEW YORK ( TheStreet) -- Synopsys (Nasdaq: SNPS) hit a new 52-week high Thursday as it is currently trading at $29.62, above its previous 52-week high of $29.54 with 51,615 shares traded as of 9:35 a.m. ET. Average volume has been 901,300 shares over the past 30 days.

Synopsys has a market cap of $4.2 billion and is part of the technology sector and electronics industry. Shares are up 8.4% year to date as of the close of trading on Wednesday.

Synopsys, Inc. provides core electronic design automation (EDA) solutions primarily in the United States, Europe, Japan, and the rest of Asia Pacific. The company has a P/E ratio of 19.8, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Synopsys as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Synopsys Ratings Report.

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