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

First Horizon Advisors Inc. lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Kieckhefer Group LLC purchased a new position in Synopsys in the 4th quarter worth $27,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the period. Sierra Ocean LLC purchased a new position in shares of Synopsys in the fourth quarter worth about $39,000. Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at about $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Synopsys during the 4th quarter valued at about $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent analyst reports. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

SNPS opened at $474.84 on Friday. The firm has a market cap of $73.40 billion, a PE ratio of 32.70, a P/E/G ratio of 3.23 and a beta of 1.12. The stock has a 50-day moving average price of $510.21 and a 200-day moving average price of $517.48. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.