Jacobs & Co. CA Acquires 1,424 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Jacobs & Co. CA boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,266 shares of the semiconductor company’s stock after purchasing an additional 1,424 shares during the quarter. Jacobs & Co. CA’s holdings in Synopsys were worth $10,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. State Street Corp increased its stake in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased its stake in Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares during the last quarter. Edgewood Management LLC increased its stake in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Van ECK Associates Corp increased its stake in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in Synopsys in the 3rd quarter worth approximately $633,469,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded down $7.75 during midday trading on Friday, hitting $494.25. The company had a trading volume of 664,004 shares, compared to its average volume of 929,941. The business’s 50-day simple moving average is $524.10 and its 200-day simple moving average is $530.62. The stock has a market cap of $76.40 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SNPS shares. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Wells Fargo & Company initiated coverage on Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Finally, Robert W. Baird cut their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $649.00.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.