Jacobs & Co. CA Has $12.40 Million Stake in Synopsys, Inc. $SNPS

Key Points

• Jacobs & Co. CA has increased its stake in Synopsys, Inc. by 2.7% in Q2, now holding 24,179 shares worth approximately $12.40 million.
• Analysts are adjusting their price targets for Synopsys, with major firms like Stifel Nicolaus and Needham & Company lowering their targets to $550.00 while maintaining a "buy" rating.
• The stock has dropped 2.9% recently, now trading at approximately $425.45, amid a broader trend of declining analyst ratings and recent insider selling.

Jacobs & Co. CA boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,179 shares of the semiconductor company's stock after buying an additional 639 shares during the quarter. Synopsys makes up about 1.2% of Jacobs & Co. CA's investment portfolio, making the stock its 28th largest position. Jacobs & Co. CA's holdings in Synopsys were worth $12,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Synopsys in the 4th quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Saudi Central Bank bought a new position in Synopsys in the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd raised its position in Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in Synopsys in the 1st quarter valued at $34,000. Institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. Needham & Company LLC cut their price objective on Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. Bank of America restated an "underperform" rating and set a $525.00 target price (down previously from $625.00) on shares of Synopsys in a research report on Wednesday. Baird R W downgraded Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Finally, Robert W. Baird restated a "neutral" rating and set a $535.00 target price (down previously from $670.00) on shares of Synopsys in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $585.33.

Synopsys Trading Down 2.9%

NASDAQ SNPS opened at $425.45 on Friday. The stock has a 50-day simple moving average of $590.39 and a 200 day simple moving average of $506.54. The company has a market capitalization of $79.03 billion, a PE ratio of 33.39, a P/E/G ratio of 3.32 and a beta of 1.14. The company has a current ratio of 1.62, a quick ratio of 6.85 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,031 shares of company stock worth $13,168,999. 0.62% of the stock is owned by insiders.

Synopsys 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.

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