With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Synopsys, Inc. (NASDAQ:SNPS).
Synopsys, Inc. (NASDAQ:SNPS) was in 21 hedge funds’ portfolios at the end of September. SNPS investors should pay attention to an increase in support from the world’s most elite money managers of late. There were 19 hedge funds in our database with SNPS holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Mobile TeleSystems OJSC (ADR) (NYSE:MBT), China Southern Airlines Co Ltd (ADR) (NYSE:ZNH), and ResMed Inc. (NYSE:RMD) to gather more data points.
To the average investor there are a multitude of tools investors can use to value publicly traded companies. Two of the most underrated tools are hedge fund and insider trading moves. Our experts have shown that, historically, those who follow the best picks of the top fund managers can outperform their index-focused peers by a solid amount (see the details here).
With all of this in mind, we’re going to check out the key action surrounding Synopsys, Inc. (NASDAQ:SNPS).
What have hedge funds been doing with Synopsys, Inc. (NASDAQ:SNPS)?
At Q3’s end, a total of 21 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 11% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Alkeon Capital Management, managed by Panayotis Takis Sparaggis, holds the biggest position in Synopsys, Inc. (NASDAQ:SNPS). Alkeon Capital Management has a $153.5 million position in the stock, comprising 3.2% of its 13F portfolio. On Alkeon Capital Management’s heels is AQR Capital Management, managed by Cliff Asness, which holds a $54.4 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other professional money managers that hold long positions contain Ken Fisher’s Fisher Asset Management, Lee Munder’s Lee Munder Capital Group and Glenn Russell Dubin’s Highbridge Capital Management.