5 Best Semiconductor Stocks to Invest In According to Noam Gottesman’s GLG Partners

In this piece, we will take a look at the five best semiconductor stocks to invest in according to Noam Gottesman’s GLG Partners. If you want more details about the investment firm, its founder and learn about more stocks, then head on over to 10 Best Semiconductor Stocks to Invest In According to Noam Gottesman’s GLG Partners.

5. Cadence Design Systems, Inc. (NASDAQ:CDNS)

GLG’s Stake Value: $193 million

Percentage of  GLG’s 13F Portfolio: 0.62%

Number of Hedge Fund Holders: 35

Cadence Design Systems, Inc. (NASDAQ:CDNS) is a software company that deals with the semiconductor sector. Its products are involved in early stage chip manufacturing before the circuits are printed by the fabrication companies onto silicon wafers. Cadence Design Systems, Inc. (NASDAQ:CDNS)’s products allow the companies to verify the designs, create schematics, and analyze the effects of various forces on a chip.

Man GLG had a $193 million stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by the end of Q4 2021. This came through one million shares, and it represented 0.62% of the firm’s investment portfolio. During the same time period, 35 of the 924 edge funds profiled by Insider Monkey also held shares of the software company.

Cadence Design Systems, Inc. (NASDAQ:CDNS) brought in $773 million in revenue and $0.82 in non-GAAP EPS during its fiscal fourth quarter, beating analyst estimates for both. KeyBanc raised the company’s price target to $445 from $395 in January 2022, highlighting that the electronic design automation (EDA) industry is set for strong growth.

Cadence Design Systems, Inc. (NASDAQ:CDNS)’s largest investor is Panayotis Takis Sparaggis’ Alkeon Capital Management. It owns 4.3 million shares for an $802 million stake.