Jacobi Capital Management LLC Acquires 180 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Jacobi Capital Management LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 45.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 577 shares of the semiconductor company’s stock after buying an additional 180 shares during the quarter. Jacobi Capital Management LLC’s holdings in Synopsys were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Synopsys by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after buying an additional 278,265 shares during the period. Capital World Investors lifted its holdings in Synopsys by 0.5% during the fourth quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock valued at $3,373,384,000 after purchasing an additional 32,430 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Synopsys by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock valued at $1,321,019,000 after purchasing an additional 153,053 shares in the last quarter. Norges Bank purchased a new position in Synopsys during the fourth quarter valued at approximately $1,272,143,000. Finally, Van ECK Associates Corp lifted its holdings in Synopsys by 25.0% during the first quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock valued at $664,145,000 after purchasing an additional 232,731 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Down 0.3 %

Synopsys stock traded down $1.63 during mid-day trading on Tuesday, reaching $586.08. 184,173 shares of the company’s stock traded hands, compared to its average volume of 1,054,919. The company has a market cap of $89.80 billion, a price-to-earnings ratio of 63.84, a PEG ratio of 3.63 and a beta of 1.07. The stock has a 50 day moving average of $590.12 and a two-hundred day moving average of $564.54. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 EPS. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Synopsys news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold a total of 81,363 shares of company stock valued at $49,361,263 over the last 90 days. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Robert W. Baird lifted their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Finally, KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $627.18.

About Synopsys

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.