Should You Hold Synopsys (SNPS)?

Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 7.28% in the first quarter, compared to a 6.60% return for the benchmark MSCI ACWI. Strong idiosyncratic stock returns led the portfolio to outperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Cooper Investors Global Equities Fund highlighted stocks like Synopsys, Inc. (NASDAQ:SNPS) in the first quarter 2023 investor letter. Headquartered in Mountain View, California, Synopsys, Inc. (NASDAQ:SNPS) provides software products and consulting services in the electronic design automation industry. On May 24, 2023, Synopsys, Inc. (NASDAQ:SNPS) stock closed at $395.39 per share. One-month return of Synopsys, Inc. (NASDAQ:SNPS) was 7.33%, and its shares gained 29.17% of their value over the last 52 weeks. Synopsys, Inc. (NASDAQ:SNPS) has a market capitalization of $60.163 billion.

Cooper Investors Global Equities Fund made the following comment about Synopsys, Inc. (NASDAQ:SNPS) in its Q1 2023 investor letter:

“Thus, the portfolio sold its position in Synopsys, Inc. (NASDAQ:SNPS), a leader in vertical software for the semiconductor industry. This was a successful investment, more than doubling from the initial purchase at $142-a-share to deliver a 137% return over the 3-year holding period versus an index return of 35%. With the business trading at close to $400 or a Free Cash Flow multiple (adjusted for share-based comp) of around 40x, we do not see compelling Risk Adjusted Value Latency today.”

microchip, system, background

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Synopsys, Inc. (NASDAQ:SNPS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Synopsys, Inc. (NASDAQ:SNPS) at the end of the first quarter 2023 which was 44 in the previous quarter.

We discussed Synopsys, Inc. (NASDAQ:SNPS) in another article and shared the list of best stocks to buy according to billionaire Paul Tudor Jones. In addition, please check out our hedge fund investor letters Q1 2023 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.