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Synopsys Inc. (SNPS - Analyst Report) recently announced that Samsung has installed its Design Compiler Graphical products for Samsung mobile system on chips (SoCs). The Designs Compiler Graphical is an ideal solution to reduce power consumption and provide more competitive SoCs for the mobile market.

The deployment will reduce routing congestion and enable Samsung to increase its customer base by providing value-added products with improved designs. It also minimizes the need of Low-Vt cells, which in turn reduces leakage power. Design Compiler Graphical meets the requirements of challenging designs at both advanced and established nodes.

Apart from this, Synopsys also collaborated with ARM to optimize the performance of its processors. Collaborations have helped the company strengthen its product portfolio and improve the design quality of its custom integrated circuits, which has in turn helped sales.

Synopsys reported third quarter revenues of $482.9 million, up 8.8% on a year-over-year basis and in line with the Zacks Consensus Estimate. The company witnessed good business volume across all its business segments. More than 90% of the total third-quarter revenue came from the backlog. A single customer accounted for slightly more than 10% of the revenues in the quarter.

Synopsys Inc. is a vendor of electronic design automation (EDA) software to the semiconductor and electronics industries. It offers a full suite of products used in the logic synthesis and functional verification phases of chip design, including a broad array of reusable design building blocks.

Synopsys ís up against Cadence Design Systems Inc. (CDNS - Snapshot Report) and Mentor Graphics Corp. (MENT - Snapshot Report) in the EDA market, a challenging technology spending environment and uncertainty regarding proper time to realize acquisition synergies.

Currently, Synopsys holds a Zacks Rank #3 (Hold). Investors may now however consider stocks like Portfolio Recovery Associates Inc. (PRAA - Analyst Report), a stock from the same sector with a Zacks Rank #1 (Strong Buy).

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