15 Best NASDAQ Stocks to Buy According to Hedge Funds

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7. Synopsys Inc. (NASDAQ:SNPS)

Synopsys Inc. (NASDAQ:SNPS) is one of the best NASDAQ stocks to buy according to hedge funds. On March 2, Synopsys entered into an accelerated share repurchase agreement with The Bank of Nova Scotia to buy back $250 million of its common stock. This initiative is part of the Sunnyvale-based company’s broader capital allocation strategy. At the start of the agreement, Synopsys is expected to receive an initial delivery of ~513,000 shares.

The final number of shares to be repurchased will be determined by the average daily volume-weighted average price of Synopsys Inc. (NASDAQ:SNPS) stock during the repurchase period, minus a pre-determined discount. This structured approach allows the company to retire a significant portion of shares quickly, while the specific final count is adjusted based on market performance over the duration of the program.

The transaction is expected to be fully settled on or before June 1. This timeline provides a clear window for the completion of the buyback, ensuring that the remaining shares, if any, are accounted for by the end of the second quarter. This move reflects the company’s ongoing efforts to manage its share count and deliver value to its investors.

Synopsys Inc. (NASDAQ:SNPS) provides design IP solutions in the semiconductor and electronics industries. It operates in two segments: Design Automation and Design IP.

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