Alkeon Capital Management buys $189,241,090 stake in Synopsys (SNPS)

Synopsys (SNPS) : Alkeon Capital Management scooped up 211,645 additional shares in Synopsys during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,395,068 shares of Synopsys which is valued at $189,241,090.Synopsys makes up approximately 3.59% of Alkeon Capital Management’s portfolio.

Other Hedge Funds, Including , Zacks Investment Management boosted its stake in SNPS in the latest quarter, The investment management firm added 23,819 additional shares and now holds a total of 28,268 shares of Synopsys which is valued at $1,575,658. Synopsys makes up approx 0.05% of Zacks Investment Management’s portfolio.Mizuho Asset Managementltd. boosted its stake in SNPS in the latest quarter, The investment management firm added 590 additional shares and now holds a total of 1,963 shares of Synopsys which is valued at $109,418. Synopsys makes up approx 0.02% of Mizuho Asset Managementltd.’s portfolio.Td Asset Management Inc reduced its stake in SNPS by selling 2,700 shares or 0.9% in the most recent quarter. The Hedge Fund company now holds 298,694 shares of SNPS which is valued at $16,475,961. Synopsys makes up approx 0.03% of Td Asset Management Inc’s portfolio.Ghp Investment Advisors reduced its stake in SNPS by selling 470 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 31,270 shares of SNPS which is valued at $1,699,837. Synopsys makes up approx 0.33% of Ghp Investment Advisors’s portfolio.Rothschild Asset Management Inc boosted its stake in SNPS in the latest quarter, The investment management firm added 202,104 additional shares and now holds a total of 208,850 shares of Synopsys which is valued at $11,353,086. Synopsys makes up approx 0.20% of Rothschild Asset Management Inc’s portfolio.

Synopsys closed down -0.15 points or -0.25% at $59.14 with 10,46,736 shares getting traded on Thursday. Post opening the session at $58.96, the shares hit an intraday low of $58.66 and an intraday high of $59.41 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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