We consider the problem of stability analysis and control synthesis for first-order hyperbolic linear PDEs over a bounded interval with spatially varying coefficients. We propose LMI-based conditions for the stability and for the design of boundary and distributed control for this class of systems. These LMI-based conditions involve an infinite number of LMI. Hence, we show how to overapproximate these constraints using polytopic embeddings to reduce the problem to a finite number of LMI. We show the effectiveness of the overapproximation with several examples.