Robeco Institutional Asset Management B.V. lessened its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 480,589 shares of the software maker’s stock after selling 8,847 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Cadence Design Systems were worth $20,815,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CDNS. Global X Management Co. LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at $220,000. Hennessy Advisors Inc. acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at $339,000. Wells Fargo & Company MN boosted its holdings in shares of Cadence Design Systems by 27.8% in the 1st quarter. Wells Fargo & Company MN now owns 1,186,859 shares of the software maker’s stock valued at $43,641,000 after purchasing an additional 258,261 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Cadence Design Systems by 17.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,708 shares of the software maker’s stock valued at $357,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of Cadence Design Systems by 64.3% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 22,049 shares of the software maker’s stock valued at $793,000 after purchasing an additional 8,630 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on CDNS shares. Needham & Company LLC raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Tuesday, April 24th. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Thursday, April 26th. BidaskClub raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Griffin Securities raised their price objective on Cadence Design Systems from $50.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Finally, DA Davidson raised their price objective on Cadence Design Systems to $52.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $48.43.

NASDAQ CDNS opened at $45.36 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.26 and a current ratio of 1.30. Cadence Design Systems Inc has a twelve month low of $35.49 and a twelve month high of $46.99. The firm has a market cap of $12.78 billion, a P/E ratio of 42.79, a PEG ratio of 3.78 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 23rd. The software maker reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. Cadence Design Systems had a return on equity of 28.38% and a net margin of 10.62%. The company had revenue of $518.40 million for the quarter, compared to the consensus estimate of $514.94 million. During the same quarter last year, the business posted $0.34 EPS. Cadence Design Systems’s revenue for the quarter was up 8.2% on a year-over-year basis. analysts forecast that Cadence Design Systems Inc will post 1 earnings per share for the current fiscal year.

In related news, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $44.82, for a total transaction of $4,482,000.00. Following the completion of the transaction, the chief executive officer now directly owns 502,813 shares of the company’s stock, valued at approximately $22,536,078.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 750 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $45.10, for a total value of $33,825.00. Following the transaction, the chief financial officer now directly owns 118,524 shares of the company’s stock, valued at $5,345,432.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,000 shares of company stock worth $9,411,605. 2.28% of the stock is currently owned by company insiders.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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