Gateway Investment Advisers LLC boosted its stake in Cadence Design Systems Inc (NASDAQ:CDNS) by 224.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 411,004 shares of the software maker’s stock after buying an additional 284,417 shares during the period. Gateway Investment Advisers LLC’s holdings in Cadence Design Systems were worth $17,188,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of CDNS. Sigma Planning Corp increased its stake in shares of Cadence Design Systems by 17.1% during the third quarter. Sigma Planning Corp now owns 66,369 shares of the software maker’s stock valued at $2,620,000 after purchasing an additional 9,695 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Cadence Design Systems by 73,454.0% during the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock valued at $693,303,000 after purchasing an additional 20,673,635 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Cadence Design Systems during the third quarter valued at approximately $432,000. Skandinaviska Enskilda Banken AB publ increased 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 acquiring an additional 5,500 shares in the last quarter. Finally, Graticule Asia Macro Advisors LLC bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $8,210,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
CDNS has been the subject of several analyst reports. DA Davidson raised their price target on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. BidaskClub downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Royal Bank of Canada raised their price target on shares of Cadence Design Systems from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.50.
Shares of Cadence Design Systems Inc (NASDAQ CDNS) opened at $44.94 on Friday. Cadence Design Systems Inc has a fifty-two week low of $25.62 and a fifty-two week high of $45.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72. The stock has a market cap of $12,666.67, a P/E ratio of 48.32, a P/E/G ratio of 3.68 and a beta of 0.94.
Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The company had revenue of $485.40 million for the quarter, compared to analysts’ expectations of $481.10 million. During the same quarter last year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. analysts expect that Cadence Design Systems Inc will post 1.06 EPS for the current fiscal year.
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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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