Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Position Lessened by Tamar Securities LLC

Tamar Securities LLC reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,381 shares of the software maker’s stock after selling 457 shares during the quarter. Cadence Design Systems comprises about 2.3% of Tamar Securities LLC’s investment portfolio, making the stock its 20th largest holding. Tamar Securities LLC’s holdings in Cadence Design Systems were worth $7,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CDNS. Voya Investment Management LLC increased its position in shares of Cadence Design Systems by 102.3% during the 2nd quarter. Voya Investment Management LLC now owns 1,818,157 shares of the software maker’s stock valued at $272,778,000 after purchasing an additional 919,571 shares during the period. FMR LLC grew its holdings in Cadence Design Systems by 4.7% during the second quarter. FMR LLC now owns 10,344,233 shares of the software maker’s stock worth $1,551,944,000 after acquiring an additional 462,306 shares during the period. Prudential Financial Inc. grew its holdings in Cadence Design Systems by 83.0% during the third quarter. Prudential Financial Inc. now owns 819,168 shares of the software maker’s stock worth $133,882,000 after acquiring an additional 371,526 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Cadence Design Systems by 55.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,037,790 shares of the software maker’s stock worth $170,675,000 after acquiring an additional 368,956 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Cadence Design Systems in the 1st quarter valued at about $57,084,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

Cadence Design Systems Stock Down 2.4 %

Shares of Cadence Design Systems stock traded down $4.40 during midday trading on Wednesday, hitting $177.98. The company’s stock had a trading volume of 178,566 shares, compared to its average volume of 1,377,904. The firm has a market capitalization of $48.82 billion, a P/E ratio of 64.22, a PEG ratio of 2.48 and a beta of 1.10. Cadence Design Systems, Inc. has a 1-year low of $132.32 and a 1-year high of $194.97. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $165.98 and a 200-day simple moving average of $166.61.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last announced its quarterly earnings data on Monday, October 24th. The software maker reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $902.55 million during the quarter, compared to analyst estimates of $868.85 million. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 3.41 earnings per share for the current year.

Analyst Ratings Changes

CDNS has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, October 26th. Atlantic Securities upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $200.00 price target on the stock in a research report on Tuesday, January 17th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America raised Cadence Design Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $205.00 in a research note on Friday, December 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Cadence Design Systems in a research report on Wednesday, September 28th. They set a “buy” rating and a $200.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.50.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Young Sohn sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $166.00, for a total value of $1,660,000.00. Following the completion of the sale, the director now owns 36,372 shares in the company, valued at approximately $6,037,752. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cadence Design Systems news, Director Young Sohn sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $166.00, for a total value of $1,660,000.00. Following the transaction, the director now owns 36,372 shares in the company, valued at $6,037,752. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 250 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $143.63, for a total value of $35,907.50. Following the sale, the vice president now directly owns 93,689 shares of the company’s stock, valued at $13,456,551.07. The disclosure for this sale can be found here. Insiders sold 133,250 shares of company stock valued at $22,235,385 over the last three months. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Company Profile

(Get Rating)

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks 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 logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

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

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