SG Americas Securities LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 41.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,652 shares of the software maker’s stock after acquiring an additional 22,524 shares during the period. SG Americas Securities LLC’s holdings in Cadence Design Systems were worth $3,025,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Commonwealth Equity Services Inc purchased a new stake in shares of Cadence Design Systems in the 3rd quarter valued at about $222,000. Russell Investments Group Ltd. raised its holdings in shares of Cadence Design Systems by 19.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,390,779 shares of the software maker’s stock valued at $54,895,000 after acquiring an additional 229,483 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Cadence Design Systems by 6.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 290,847 shares of the software maker’s stock valued at $10,977,000 after acquiring an additional 17,341 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Cadence Design Systems by 17.1% in the 3rd quarter. Sigma Planning Corp now owns 66,369 shares of the software maker’s stock valued at $2,620,000 after acquiring an additional 9,695 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Cadence Design Systems by 31.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 49,926 shares of the software maker’s stock valued at $1,971,000 after acquiring an additional 12,064 shares in the last quarter. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO John M. Wall sold 750 shares of Cadence Design Systems stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $40.68, for a total transaction of $30,510.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $41.97, for a total value of $4,197,000.00. Following the sale, the chief executive officer now owns 445,833 shares in the company, valued at $18,711,611.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,260 shares of company stock worth $9,133,632. Corporate insiders own 2.55% of the company’s stock.

Several analysts have weighed in on the company. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, November 1st. DA Davidson raised their price objective on Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 price objective on shares of Cadence Design Systems in a report on Friday, October 27th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $40.60.

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Cadence Design Systems, Inc. (NASDAQ CDNS) opened at $45.33 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64. Cadence Design Systems, Inc. has a 1 year low of $24.15 and a 1 year high of $45.48. The stock has a market capitalization of $12,663.84, a P/E ratio of 48.23, a P/E/G ratio of 3.54 and a beta of 0.94.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. Cadence Design Systems’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. analysts predict that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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

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