Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,905 shares of the semiconductor company's stock after acquiring 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 quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC acquired a new stake in Synopsys during the 1st quarter worth $239,000. Lake Street Advisors Group LLC boosted its holdings in Synopsys by 33.9% during the first quarter. Lake Street Advisors Group LLC now owns 872 shares of the semiconductor company's stock worth $498,000 after buying an additional 221 shares in the last quarter. Crewe Advisors LLC acquired a new position in Synopsys during the first quarter worth about $81,000. Shell Asset Management Co. lifted its position in shares of Synopsys by 18.2% during the 1st quarter. Shell Asset Management Co. now owns 3,487 shares of the semiconductor company's stock valued at $1,993,000 after acquiring an additional 536 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Synopsys during the 1st quarter worth approximately $1,085,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent research reports. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a "buy" rating and a $660.00 target price for the company. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of "Buy" and a consensus price target of $649.82.

Synopsys Stock Up 1.4 %

Shares of NASDAQ SNPS traded up $7.54 on Wednesday, reaching $541.56. 715,824 shares of the company's stock traded hands, compared to its average volume of 1,055,826. The business's 50 day simple moving average is $516.71 and its two-hundred day simple moving average is $545.49. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The company has a market cap of $83.19 billion, a price-to-earnings ratio of 55.40, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.17 earnings per share. Analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.

Synopsys 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.