Thomas White International Ltd. lowered its holdings in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,270 shares of the software maker’s stock after selling 8,259 shares during the period. Thomas White International Ltd.’s holdings in Cadence Design Systems were worth $1,601,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sigma Planning Corp grew its stake in Cadence Design Systems by 17.1% in the third 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 during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Cadence Design Systems by 15.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 41,301 shares of the software maker’s stock valued at $1,630,000 after buying an additional 5,500 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Cadence Design Systems during the third quarter valued at approximately $432,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Cadence Design Systems during the fourth quarter valued at approximately $611,000. Finally, Graticule Asia Macro Advisors LLC purchased a new position in shares of Cadence Design Systems during the third quarter valued at approximately $8,210,000. 83.42% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on CDNS shares. KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. BidaskClub lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Royal Bank of Canada reiterated a “buy” rating and set a $46.00 price target on shares of Cadence Design Systems in a report on Friday, October 27th. Zacks Investment Research lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, DA Davidson lifted their price target on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $44.20.
Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $501.70 million for the quarter, compared to analyst estimates of $496.20 million. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. Cadence Design Systems’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. analysts anticipate that Cadence Design Systems Inc will post 0.85 EPS for the current fiscal year.
In other Cadence Design Systems news, VP James J. Cowie sold 35,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $42.75, for a total value of $1,496,250.00. Following the sale, the vice president now directly owns 117,082 shares in the company, valued at $5,005,255.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anirudh Devgan sold 44,526 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.01, for a total value of $2,004,115.26. Following the completion of the sale, the president now owns 377,019 shares in the company, valued at $16,969,625.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,776 shares of company stock worth $11,313,793. Corporate insiders own 2.55% of the company’s stock.
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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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