First Horizon Advisors Inc. Sells 1,810 Shares of Synopsys, Inc. (NASDAQ:SNPS)

First Horizon Advisors Inc. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,095 shares of the semiconductor company’s stock after selling 1,810 shares during the quarter. First Horizon Advisors Inc.’s holdings in Synopsys were worth $14,122,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Davidson Capital Management Inc. grew its holdings in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after acquiring an additional 4,736 shares during the period. Peloton Wealth Strategists grew its stake in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank increased its position in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in shares of Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 3.9 %

NASDAQ SNPS opened at $474.84 on Friday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The business has a 50-day moving average price of $510.21 and a 200-day moving average price of $517.48. The firm has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNPS. Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Finally, Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $641.82.

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.