Meritage Portfolio Management Lowers stake in Synopsys (SNPS)

Synopsys (SNPS) : Meritage Portfolio Management reduced its stake in Synopsys by 1.5% during the most recent quarter end. The investment management company now holds a total of 127,817 shares of Synopsys which is valued at $6,269,424 after selling 1,940 shares in Synopsys , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Synopsys makes up approximately 0.70% of Meritage Portfolio Management’s portfolio.

Synopsys opened for trading at $48.5 and hit $48.81 on the upside on Wednesday, eventually ending the session at $48.61, with a gain of 0.25% or 0.12 points. The heightened volatility saw the trading volume jump to 5,49,690 shares. Company has a market cap of $7,366 M.

Other Hedge Funds, Including , Penbrook Management reduced its stake in SNPS by selling 2,000 shares or 5.29% in the most recent quarter. The Hedge Fund company now holds 35,830 shares of SNPS which is valued at $1,757,462. Synopsys makes up approx 1.90% of Penbrook Management’s portfolio.Reinhart Partners boosted its stake in SNPS in the latest quarter, The investment management firm added 23,038 additional shares and now holds a total of 308,678 shares of Synopsys which is valued at $15,140,656. Synopsys makes up approx 1.52% of Reinhart Partners’s portfolio.Kanaly Trust Co reduced its stake in SNPS by selling 8 shares or 10.96% in the most recent quarter. The Hedge Fund company now holds 65 shares of SNPS which is valued at $3,145.

On the company’s financial health, Synopsys reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.61. The company had revenue of $568.60 million for the quarter, compared to analysts expectations of $568.84 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

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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