5 Stocks That Outperform the S&P 500 Every Year for the Last 5 Years

2. Synopsys, Inc. (NASDAQ:SNPS)

5-Year Share Price Returns as of November 16: 492%

Number of Hedge Fund Holders: 57

Sunnyvale, California-based Synopsys, Inc. (NASDAQ:SNPS) is an electronic design automation company with a focus on advanced tools for silicon chip design, verification, IP integration, and application security testing.

On August 23, Synopsys, Inc. (NASDAQ:SNPS) announced the acquisition of PikeTec GmbH, a leading solutions provider for the testing and verification of automotive software for control unit systems. Terms of the transaction were not disclosed.

As of Q2 2023, Synopsys, Inc. (NASDAQ:SNPS) shares were owned by 57 hedge funds with a total value of $2.5 billion. Alkeon Capital Management was the largest hedge fund shareholder with ownership of 1.3 million shares valued at $552 million.

In its Q3 2023 investor letter, Aristotle Atlantic Partners, LLC, an investment advisor, made the following comments about Synopsys, Inc. (NASDAQ:SNPS):

“Synopsys contributed to performance in the quarter as the company reported third quarter revenues that were above consensus, additionally the company raised fiscal year guidance for 2023. Synopsys continues to be a key beneficiary from the demand for semiconductors throughout the entire economy, as well as the increasing complexity of semiconductor design, particularly for silicon used in the artificial intelligence (AI) technology stack. The company is also leveraging AI for its design tools which can drive increased usage and improve margins for the company’s tools.”