Black Creek Investment Management Lowers stake in Synopsys (SNPS)

Synopsys (SNPS) : Black Creek Investment Management reduced its stake in Synopsys by 27.35% during the most recent quarter end. The investment management company now holds a total of 466,500 shares of Synopsys which is valued at $26,002,710 after selling 175,600 shares in Synopsys , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Synopsys makes up approximately 2.25% of Black Creek Investment Management’s portfolio.

Other Hedge Funds, Including , Bayesian Capital Management Lp reduced its stake in SNPS by selling 4,600 shares or 46.49% in the most recent quarter. The Hedge Fund company now holds 5,295 shares of SNPS which is valued at $295,143. Synopsys makes up approx 0.17% of Bayesian Capital Management Lp’s portfolio.Alliancebernstein reduced its stake in SNPS by selling 3,020 shares or 2.47% in the most recent quarter. The Hedge Fund company now holds 119,392 shares of SNPS which is valued at $6,654,910. Synopsys makes up approx 0.01% of Alliancebernstein’s portfolio.Canada Pension Plan Investment Board boosted its stake in SNPS in the latest quarter, The investment management firm added 77,510 additional shares and now holds a total of 361,910 shares of Synopsys which is valued at $20,172,863. Synopsys makes up approx 0.08% of Canada Pension Plan Investment Board’s portfolio.Ameritas Investment Partners boosted its stake in SNPS in the latest quarter, The investment management firm added 1,059 additional shares and now holds a total of 48,206 shares of Synopsys which is valued at $2,687,002. Synopsys makes up approx 0.17% of Ameritas Investment Partners’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.

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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