Copper Rock Capital Partners LLC decreased its stake in shares of Cadence Design Systems Inc. (NASDAQ:CDNS) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,284,802 shares of the company’s stock after selling 212,323 shares during the period. Cadence Design Systems comprises 2.1% of Copper Rock Capital Partners LLC’s investment portfolio, making the stock its 10th largest position. Copper Rock Capital Partners LLC owned 0.44% of Cadence Design Systems worth $32,403,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invictus RG increased its stake in shares of Cadence Design Systems by 625.9% in the second quarter. Invictus RG now owns 5,277 shares of the company’s stock valued at $128,000 after buying an additional 4,550 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Cadence Design Systems during the second quarter valued at about $168,000. Penserra Capital Management LLC purchased a new stake in shares of Cadence Design Systems during the second quarter valued at about $169,000. Strs Ohio purchased a new stake in shares of Cadence Design Systems during the second quarter valued at about $183,000. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Cadence Design Systems during the second quarter valued at about $168,000. 85.57% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

Cadence Design Systems Inc. (NASDAQ:CDNS) traded down 0.39% during trading on Thursday, reaching $25.37. 252,913 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $25.15 and a 200-day moving average price of $24.43. The firm has a market cap of $7.42 billion, a PE ratio of 30.06 and a beta of 1.14. Cadence Design Systems Inc. has a 12 month low of $18.32 and a 12 month high of $26.24.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $453 million for the quarter, compared to analysts’ expectations of $449.54 million. Cadence Design Systems had a net margin of 14.52% and a return on equity of 21.48%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, analysts forecast that Cadence Design Systems Inc. will post $1.20 earnings per share for the current fiscal year.

Several analysts have issued reports on the stock. RBC Capital Markets reissued an “outperform” rating and set a $29.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 26th. Bank of America Corp. reissued a “buy” rating and set a $30.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 26th. Finally, Needham & Company LLC downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $25.86.

In related news, insider Anirudh Devgan sold 130,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $24.85, for a total value of $3,230,500.00. Following the sale, the insider now directly owns 424,707 shares of the company’s stock, valued at approximately $10,553,968.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chi-Ping Hsu sold 3,750 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $25.60, for a total transaction of $96,000.00. Following the completion of the sale, the vice president now directly owns 253,214 shares in the company, valued at $6,482,278.40. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Company’s SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP): verification IP (VIP) and design IP.

5 Day Chart for NASDAQ:CDNS

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