Corebridge Financial Inc. Has $24.51 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Corebridge Financial Inc. trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,494 shares of the semiconductor company’s stock after selling 1,315 shares during the quarter. Corebridge Financial Inc.’s holdings in Synopsys were worth $24,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. State Street Corp lifted its holdings in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the period. Janus Henderson Group PLC increased its stake in Synopsys by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after purchasing an additional 81,198 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Synopsys by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company’s stock worth $527,222,000 after buying an additional 3,533 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Down 0.3 %

Shares of Synopsys stock opened at $448.60 on Monday. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The business’s 50 day moving average is $491.19 and its 200-day moving average is $506.44. The stock has a market cap of $69.36 billion, a P/E ratio of 30.90, a P/E/G ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNPS shares. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

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.