First Horizon Advisors Inc. Has $15.76 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

First Horizon Advisors Inc. lifted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,743 shares of the semiconductor company's stock after purchasing an additional 7,648 shares during the period. First Horizon Advisors Inc.'s holdings in Synopsys were worth $15,758,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 50 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Synopsys in the fourth quarter worth approximately $372,000. Fisher Asset Management LLC boosted its holdings in shares of Synopsys by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 12,643 shares of the semiconductor company's stock worth $6,137,000 after buying an additional 122 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Synopsys by 17.4% in the fourth quarter. Jones Financial Companies Lllp now owns 5,213 shares of the semiconductor company's stock worth $2,530,000 after buying an additional 772 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Synopsys by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,058 shares of the semiconductor company's stock valued at $3,911,000 after purchasing an additional 1,556 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Up 4.5%

Shares of SNPS traded up $23.65 during mid-day trading on Thursday, reaching $546.76. 2,020,024 shares of the stock traded hands, compared to its average volume of 1,177,053. The firm has a market cap of $84.83 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 3.45 and a beta of 1.12. The stock has a fifty day simple moving average of $485.73 and a 200 day simple moving average of $477.75. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $3.00 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Rosenblatt Securities lowered their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Bank of America lowered their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and a consensus target price of $607.14.

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.