Delta Lloyd Asset Management N.V. purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,362 shares of the software maker’s stock, valued at approximately $648,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in CDNS. Creative Planning increased its stake in Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after purchasing an additional 2,323 shares during the period. Tocqueville Asset Management L.P. acquired a new position in Cadence Design Systems in the second quarter valued at $206,000. Atria Investments LLC acquired a new position in Cadence Design Systems in the second quarter valued at $231,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cadence Design Systems in the first quarter valued at about $240,000. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Cadence Design Systems in the second quarter valued at about $244,000. Institutional investors and hedge funds own 84.27% of the company’s stock.
In related news, VP James J. Cowie sold 5,036 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $37.21, for a total value of $187,389.56. Following the sale, the vice president now owns 82,082 shares in the company, valued at approximately $3,054,271.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas P. Beckley sold 56,250 shares of the stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $35.00, for a total value of $1,968,750.00. Following the completion of the sale, the insider now owns 322,734 shares in the company, valued at approximately $11,295,690. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,286 shares of company stock worth $11,395,640. 2.55% of the stock is owned by company insiders.
Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded down 0.32% on Friday, hitting $37.90. 535,361 shares of the stock traded hands. The stock has a 50-day moving average price of $37.32 and a 200 day moving average price of $34.13. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 44.07 and a beta of 0.92. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $39.49.
Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $476.21 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. On average, analysts anticipate that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on CDNS. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada restated a “buy” rating on shares of Cadence Design Systems in a research report on Friday, July 7th. Bank of America Corporation lifted their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Cadence Design Systems presently has a consensus rating of “Buy” and an average price target of $33.67.
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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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