Jackson Wealth Management LLC Has $2.55 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Jackson Wealth Management LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 43.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,286 shares of the semiconductor company’s stock after selling 3,360 shares during the period. Jackson Wealth Management LLC’s holdings in Synopsys were worth $2,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Norges Bank acquired a new position in Synopsys during the fourth quarter valued at approximately $1,272,143,000. Swedbank AB acquired a new position in Synopsys during the first quarter valued at approximately $1,051,637,000. Price T Rowe Associates Inc. MD raised its position in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its position in Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Finally, Capital World Investors raised its position in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Synopsys Trading Down 6.5 %

SNPS stock traded down $34.89 during midday trading on Friday, hitting $505.78. The stock had a trading volume of 2,843,665 shares, compared to its average volume of 865,666. The firm has a market cap of $77.50 billion, a P/E ratio of 54.98, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The business has a fifty day moving average price of $584.85 and a two-hundred day moving average price of $567.00.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird boosted their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $627.18.

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.