TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell Midcap Growth Index and returned -4.11% (net) while the index return was -5.22%. The third quarter saw a decline in global equities markets, although they have held up positive year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like Synopsys, Inc. (NASDAQ:SNPS) in the third 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 December 15, 2023, Synopsys, Inc. (NASDAQ:SNPS) stock closed at $556.27 per share. One-month return of Synopsys, Inc. (NASDAQ:SNPS) was 2.72%, and its shares gained 72.01% of their value over the last 52 weeks. Synopsys, Inc. (NASDAQ:SNPS) has a market capitalization of $84.55 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about Synopsys, Inc. (NASDAQ:SNPS) in its Q3 2023 investor letter:
“Across the Information Technology universe, we seek companies possessing differentiated capabilities, products, and services. Synopsys, Inc. (NASDAQ:SNPS), a supplier of electronic design automation software for use in designing and testing integrated circuits, edged forward 5%. The company reported a solid fiscal fourth quarter and raised forward guidance. Despite macroeconomic concerns, their customers remain focused on developing next generation semiconductors with their electric design automation tools. We trimmed the position as it approached our price target.”
An engineer wearing safety glasses in front of a large electrical control panel monitoring advanced automation and control systems.
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 stocks whose price targets were recently raised by analysts. In addition, please check out our hedge fund investor letters Q3 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.
