First Horizon Advisors Inc. Has $15.65 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

First Horizon Advisors Inc. grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 12.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,905 shares of the semiconductor company’s stock after buying an additional 3,430 shares during the period. First Horizon Advisors Inc.’s holdings in Synopsys were worth $15,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. ORG Partners LLC boosted its position in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc acquired a new position in Synopsys during the 2nd quarter worth approximately $30,000. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $534.02 on Wednesday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm’s 50-day simple moving average is $516.71 and its 200 day simple moving average is $545.49. The firm has a market cap of $82.03 billion, a price-to-earnings ratio of 55.40, a P/E/G ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $649.82.

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.