Ardevora Asset Management Llp Lowers stake in Synopsys (SNPS)

Synopsys (SNPS) : Ardevora Asset Management Llp reduced its stake in Synopsys by 0.23% during the most recent quarter end. The investment management company now holds a total of 568,700 shares of Synopsys which is valued at $31,778,956 after selling 1,300 shares in Synopsys , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Synopsys makes up approximately 1.26% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Investment Partners S.a. reduced its stake in SNPS by selling 135 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 195,670 shares of SNPS which is valued at $10,934,040. Synopsys makes up approx 0.09% of Bnp Paribas Investment Partners S.a.’s portfolio.Diam Ltd. reduced its stake in SNPS by selling 3,843 shares or 22.73% in the most recent quarter. The Hedge Fund company now holds 13,067 shares of SNPS which is valued at $710,322. Synopsys makes up approx 0.01% of Diam Ltd.’s portfolio.Msi Financial Services Inc reduced its stake in SNPS by selling 93 shares or 11.27% in the most recent quarter. The Hedge Fund company now holds 732 shares of SNPS which is valued at $39,550.Eagle Asset Management Inc reduced its stake in SNPS by selling 4,531 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 327,618 shares of SNPS which is valued at $17,979,676. Synopsys makes up approx 0.12% of Eagle Asset Management Inc’s portfolio.

Synopsys opened for trading at $55.85 and hit $56.29 on the upside on Monday, eventually ending the session at $56.06, with a gain of 0.57% or 0.32 points. The heightened volatility saw the trading volume jump to 9,96,243 shares. Company has a market cap of $8,511 M.

On the company’s financial health, Synopsys reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.79. The company had revenue of $605.01 million for the quarter, compared to analysts expectations of $601.92 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on Synopsys. RBC Capital Mkts Initiated Synopsys on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $64.

Synopsys Inc. provides software intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits also known as chips. It also offers IP products which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves. It provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. It provides technical services to support its solutions and help its customers develop chips and electronic systems. It is also a provider of software tools that developers use to develop software code in a range of industries including electronics financial services energy and industrials. It offers products and services in four categories: core EDA; IP Systems and Software Integrity; Manufacturing Solutions and Professional Services and Other.

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