Kerrisdale Advisers Lowers stake in Synopsys (SNPS)

Synopsys (SNPS) : Kerrisdale Advisers reduced its stake in Synopsys by 1.12% during the most recent quarter end. The investment management company now holds a total of 260,215 shares of Synopsys which is valued at $14,504,384 after selling 2,942 shares in Synopsys , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Synopsys makes up approximately 3.64% of Kerrisdale Advisers’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management reduced its stake in SNPS by selling 16,432 shares or 54.17% in the most recent quarter. The Hedge Fund company now holds 13,904 shares of SNPS which is valued at $775,009. Synopsys makes up approx 0.01% of Riverhead Capital Management’s portfolio.Cipher Capital Lp boosted its stake in SNPS in the latest quarter, The investment management firm added 70,795 additional shares and now holds a total of 183,039 shares of Synopsys which is valued at $10,202,594. Synopsys makes up approx 0.68% of Cipher Capital Lp’s portfolio.Congress Asset Management Co boosted its stake in SNPS in the latest quarter, The investment management firm added 52,964 additional shares and now holds a total of 791,816 shares of Synopsys which is valued at $43,676,571. Synopsys makes up approx 0.97% of Congress Asset Management Co’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in SNPS in the latest quarter, The investment management firm added 224 additional shares and now holds a total of 21,356 shares of Synopsys which is valued at $1,160,912. Synopsys makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Reinhart Partners boosted its stake in SNPS in the latest quarter, The investment management firm added 6,306 additional shares and now holds a total of 314,984 shares of Synopsys which is valued at $17,264,273. Synopsys makes up approx 1.66% of Reinhart Partners’s portfolio.

Synopsys opened for trading at $59.09 and hit $59.52 on the upside on Monday, eventually ending the session at $59.29, with a gain of 0.25% or 0.15 points. The heightened volatility saw the trading volume jump to 5,36,489 shares. Company has a market cap of $8,973 M.

On the company’s financial health, Synopsys reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.74. The company had revenue of $615.20 million for the quarter, compared to analysts expectations of $602.89 million. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Synopsys. Company shares were Reiterated by DA Davidson on Aug 18, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .Company shares were Reiterated by Needham on Aug 18, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $54 .Company shares were Reiterated by The Benchmark Company on Aug 18, 2016 to “Hold”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .

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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