Cadence Design Systems Inc (CDNS) Shares Bought by Gateway Investment Advisers LLC

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.

In related news, insider Thomas P. Beckley sold 43,469 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $44.09, for a total value of $1,916,548.21. Following the sale, the insider now owns 225,863 shares in the company, valued at $9,958,299.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger S. Siboni sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.14, for a total transaction of $776,520.00. Following the completion of the sale, the director now owns 52,194 shares in the company, valued at approximately $2,251,649.16. The disclosure for this sale can be found here. Insiders sold 350,500 shares of company stock worth $15,440,828 in the last 90 days. 2.55% of the stock is currently owned by corporate insiders.

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.

WARNING: This story was originally reported by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3145398/cadence-design-systems-inc-cdns-shares-bought-by-gateway-investment-advisers-llc.html.

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).

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems Inc (NASDAQ:CDNS).

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

Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.