Synopsys (SNPS) Rose on Increased Demand

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. After underwhelming results in Q3, mid-cap stocks made impressive gains in Q4. Mid-cap stocks had a positive year, with every sector performing well. The Russell Midcap Growth Index (up 25.86%) outperformed the Russell Midcap Value Index (up 12.66%) by a significant margin. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund featured stocks such as Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter 2023 investor letter. Headquartered in Sunnyvale, California, Synopsys, Inc. (NASDAQ:SNPS) provides electronic design automation (EDA) software that engineers use to design and test integrated circuits (ICs). On January 31, 2024, Synopsys, Inc. (NASDAQ:SNPS) stock closed at $533.35 per share. One-month return of Synopsys, Inc. (NASDAQ:SNPS) was 8.81%, and its shares gained 44.70% of their value over the last 52 weeks. Synopsys, Inc. (NASDAQ:SNPS) has a market capitalization of $81.344 billion.

Carillon Eagle Mid Cap Growth Fund stated the following regarding Synopsys, Inc. (NASDAQ:SNPS) in its fourth quarter 2023 investor letter:

“Synopsys, Inc. (NASDAQ:SNPS) provides software for the development of semiconductors. Investors have appreciated the continued strength in demand from major semiconductor companies and the company’s new product announcements leveraging artificial intelligence.”

A lab technician inspecting intricate SEM micrographs of semiconductor interconnects.

Synopsys, Inc. (NASDAQ:SNPS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held Synopsys, Inc. (NASDAQ:SNPS) at the end of third quarter which was 57 in the previous quarter.

We discussed Synopsys, Inc. (NASDAQ:SNPS) in another article and shared the list of high growth low debt stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.