Aristotle Atlantic Partners, an investment management firm, released its second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Aristotle Atlantic’s Core Equity Composite posted a total return of 9.29 % gross of fees (9.18% net of fees), outperforming the S&P 500 Index, which recorded a total return of 8.74%. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q2 2023 investor letter, Aristotle Atlantic Partners mentioned Synopsys, Inc. (NASDAQ:SNPS) and explained its insights for the company. Founded in 1986, Synopsys, Inc. (NASDAQ:SNPS) is a Mountain View, California-based software company with a $68.6 billion market capitalization. Synopsys, Inc. (NASDAQ:SNPS) delivered a 41.22% return since the beginning of the year, while its 12-month returns are up by 22.69%. The stock closed at $450.90 per share on July 28, 2023.
Here is what Aristotle Atlantic Partners has to say about Synopsys, Inc. (NASDAQ:SNPS) in its Q2 2023 investor letter:
“Synopsys provides products and services used across the entire Silicon to Software™ spectrum to bring Smart Everything to life. From engineers creating advanced semiconductors to product teams developing advanced electronic systems to software developers seeking to ensure the security and quality of their code, its customers trust that its technologies will enable them to meet new requirements for low power as well as reliability, mobility and security.
We initiated a position in Synopsys, as we see the company to be a key beneficiary of the continued long-term growth in semiconductor systems for use in the automotive, mobile and communications infrastructure, data center, networking and AI end markets. The research and design requirements for these semiconductors continue to increase in complexity, and semiconductor companies will continue to leverage Synopsys’ design tools to enhance efficiencies and reduce the time and cost of the design and manufacturing cycle.”
Photo by Austin Distel on Unsplash
Our calculations show that Synopsys, Inc. (NASDAQ:SNPS) was not able to secure a spot on our list of the 30 Most Popular Stocks Among Hedge Funds. Synopsys, Inc. (NASDAQ:SNPS) was in 39 hedge fund portfolios at the end of the second quarter of 2023, compared to 44 funds in the previous quarter. Synopsys, Inc. (NASDAQ:SNPS) delivered a 21.43% return in the past 3 months.
We also discussed Synopsys, Inc. (NASDAQ:SNPS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
