Bernzott Capital Advisors Lowers stake in Synopsys (SNPS)

Synopsys (SNPS) : Bernzott Capital Advisors reduced its stake in Synopsys by 16.64% during the most recent quarter end. The investment management company now holds a total of 389,284 shares of Synopsys which is valued at $21,461,227 after selling 77,700 shares in Synopsys , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Synopsys makes up approximately 4.02% of Bernzott Capital Advisors’s portfolio.

Other Hedge Funds, Including , 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.Calvert Investment Management boosted its stake in SNPS in the latest quarter, The investment management firm added 113,313 additional shares and now holds a total of 120,575 shares of Synopsys which is valued at $6,650,917. Synopsys makes up approx 0.33% of Calvert Investment Management’s portfolio. Quantitative Investment Management added SNPS to its portfolio by purchasing 16,600 company shares during the most recent quarter which is valued at $902,376. Synopsys makes up approx 0.04% of Quantitative Investment Management’s portfolio.Capstone Asset Management Co boosted its stake in SNPS in the latest quarter, The investment management firm added 540 additional shares and now holds a total of 12,745 shares of Synopsys which is valued at $699,318. Synopsys makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

Synopsys opened for trading at $55.87 and hit $56.06 on the upside on Wednesday, eventually ending the session at $55.89, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 11,74,563 shares. Company has a market cap of $8,486 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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