Should You Hold Synopsys (SNPS)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. FOCUS Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -2.78% (net), compared to -0.65% return for the Russell Midcap Growth Index. Macroeconomic pressures led the strategy to underperform relative to the benchmark in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Synopsys, Inc. (NASDAQ:SNPS) in its Q3 2022 investor letter. Headquartered in Mountain View, California, Synopsys, Inc. (NASDAQ:SNPS) provides design automation software products. On December 27, 2022, Synopsys, Inc. (NASDAQ:SNPS) stock closed at $317.95 per share. One-month return of Synopsys, Inc. (NASDAQ:SNPS) was -6.36%, and its shares lost 14.86% of their value over the last 52 weeks. Synopsys, Inc. (NASDAQ:SNPS) has a market capitalization of $48.461 billion.

TimesSquare Capital made the following comment about Synopsys, Inc. (NASDAQ:SNPS)  in its Q3 2022 investor letter:

“New to the strategy this quarter was Synopsys, Inc. (NASDAQ:SNPS), a provider of electronic design automation software products used to design and test integrated circuits. The electronic design automation market is a essentially a duopoly with one other major player in the space. As such, the barriers to entry are very high and will likely remain that way due to rising chip complexity.”

Photo by Alvaro Reyes on Unsplash

Synopsys, Inc. (NASDAQ:SNPS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Synopsys, Inc. (NASDAQ:SNPS) at the end of the third quarter, which was 41 in the previous quarter.

We discussed Synopsys, Inc. (NASDAQ:SNPS) in another article and shared best S&P 500 stocks that don’t pay dividends. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.