Jacobs & Co. CA Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Jacobs & Co. CA grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,266 shares of the semiconductor company's stock after acquiring an additional 1,424 shares during the period. Jacobs & Co. CA's holdings in Synopsys were worth $10,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNPS. Parnassus Investments LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth about $633,469,000. Sustainable Growth Advisers LP purchased a new stake in Synopsys in the second quarter worth about $572,050,000. Edgewood Management LLC boosted its position in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Synopsys by 26.5% during 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 period. Finally, Impax Asset Management Group plc raised its position in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock worth $248,497,000 after acquiring an additional 267,836 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of SNPS traded down $9.46 on Friday, hitting $492.54. 1,281,608 shares of the stock traded hands, compared to its average volume of 1,039,632. The business has a 50 day simple moving average of $523.58 and a 200 day simple moving average of $529.90. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market capitalization of $76.14 billion, a PE ratio of 33.92, a P/E/G ratio of 3.41 and a beta of 1.12.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler dropped their price target on Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research report on Friday, December 6th. Loop Capital initiated coverage on shares of Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 target price on the stock. Wells Fargo & Company began coverage on shares of Synopsys in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $570.00 price target for the company. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Finally, Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $649.00.

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.