RBC Capital Initiates Coverage on Synopsys to Outperform

RBC Capital Initiates Coverage on Synopsys(NASDAQ:SNPS). The shares have been rated Outperform. The rating by RBC Capital was issued on Jun 6, 2016.

Synopsys (SNPS) shares turned negative on Fridays trading session with the shares closing down -0.58 points or -1.09% at a volume of 6,96,411. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $52.93. The peak price level was also seen at $52.93 while the days lowest was $52.39. Finally the shares closed at $52.5. The 52-week high of the shares is $53.46 while the 52-week low is $39.26. According to the latest information available, the market cap of the company is $7,971 M.

Synopsys(SNPS) last announced its earnings results on May 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $605.00M. Analysts had an estimated revenue of $601.97M. Earnings per share were $0.81. Analysts had estimated an EPS of $0.79.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, John F Jr Runkel (General Counsel &) sold 15,000 shares at $52.34 per share price.Also, On May 27, 2016, Deborah A Coleman (director) sold 2,000 shares at $51.64 per share price.On May 20, 2016, Chi-foon Chan (Co-CEO & President) sold 2,000 shares at $49.65 per share price, according to the Form-4 filing with the securities and exchange commission.

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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