Do Hedge Funds Love Synopsys, Inc. (SNPS)?

Consequently, key money managers were breaking ground themselves. Highbridge Capital Management, managed by Glenn Russell Dubin, created the largest position in Synopsys, Inc. (NASDAQ:SNPS). Highbridge Capital Management had $8.3 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $4 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Gray and Steve Walsh’s Bryn Mawr Capital, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Synopsys, Inc. (NASDAQ:SNPS) but similarly valued. These stocks are Mobile TeleSystems OJSC (ADR) (NYSE:MBT), China Southern Airlines Co Ltd (ADR) (NYSE:ZNH), ResMed Inc. (NYSE:RMD), and Raymond James Financial, Inc. (NYSE:RJF). This group of stocks’ market valuations are closest to SNPS’s market valuation.

As you can see these stocks had an average of 13.25 hedge funds with bullish positions and the average amount invested in these stocks was $153 million. That figure was $280 million in SNPS’s case. Raymond James Financial, Inc. (NYSE:RJF) is the most popular stock in this table. On the other hand China Southern Airlines Co Ltd (ADR) (NYSE:ZNH) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Synopsys, Inc. (NASDAQ:SNPS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.