First Horizon Advisors Inc. Buys 880 Shares of Synopsys, Inc. (NASDAQ:SNPS)

First Horizon Advisors Inc. lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,961 shares of the semiconductor company’s stock after purchasing an additional 880 shares during the quarter. First Horizon Advisors Inc.’s holdings in Synopsys were worth $11,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Venturi Wealth Management LLC bought a new position in Synopsys in the 3rd quarter valued at approximately $27,000. OFI Invest Asset Management bought a new position in Synopsys in the 3rd quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Synopsys in the 3rd quarter valued at approximately $29,000. Keener Financial Planning LLC bought a new position in Synopsys in the 4th quarter valued at approximately $56,000. Finally, Catalyst Capital Advisors LLC lifted its position in Synopsys by 34.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 29 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 2.6 %

SNPS stock traded up $13.56 during trading on Friday, reaching $536.94. The company’s stock had a trading volume of 855,167 shares, compared to its average volume of 1,212,881. Synopsys, Inc. has a 1 year low of $365.46 and a 1 year high of $629.38. The company has a market capitalization of $81.88 billion, a P/E ratio of 59.13, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company’s fifty day moving average is $561.64 and its 200-day moving average is $537.01.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $1.75 EPS. Synopsys’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird boosted their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler initiated coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $601.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 in the last 90 days. Insiders own 0.66% of the company’s stock.

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.