Cadence Design Systems Inc (CDNS) Holdings Trimmed by Two Sigma Investments LP

Two Sigma Investments LP trimmed its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 91.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,320 shares of the software maker’s stock after selling 309,335 shares during the quarter. Two Sigma Investments LP’s holdings in Cadence Design Systems were worth $1,184,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CDNS. First Trust Advisors LP boosted its holdings in Cadence Design Systems by 894.0% in the 4th quarter. First Trust Advisors LP now owns 2,378,302 shares of the software maker’s stock valued at $99,461,000 after purchasing an additional 2,139,046 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Cadence Design Systems by 41.9% in the 4th quarter. APG Asset Management N.V. now owns 5,203,800 shares of the software maker’s stock valued at $181,232,000 after purchasing an additional 1,536,559 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Cadence Design Systems by 60.1% in the 4th quarter. Guggenheim Capital LLC now owns 2,019,119 shares of the software maker’s stock valued at $84,440,000 after purchasing an additional 757,648 shares during the last quarter. BlackRock Inc. boosted its holdings in Cadence Design Systems by 3.5% in the 4th quarter. BlackRock Inc. now owns 19,696,293 shares of the software maker’s stock valued at $823,698,000 after purchasing an additional 659,728 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Cadence Design Systems by 54.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,777,989 shares of the software maker’s stock valued at $74,355,000 after purchasing an additional 629,112 shares during the last quarter. Institutional investors own 86.73% of the company’s stock.

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Several research firms have weighed in on CDNS. Zacks Investment Research upgraded shares of Cadence Design Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered shares of Cadence Design Systems from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. DA Davidson upgraded shares of Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday. Credit Suisse Group reiterated a “neutral” rating and issued a $43.00 target price (up from $37.00) on shares of Cadence Design Systems in a report on Thursday, February 1st. Finally, ValuEngine upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.20.

In other news, CEO Lip Bu Tan sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $44.69, for a total value of $1,117,250.00. Following the transaction, the chief executive officer now directly owns 458,333 shares in the company, valued at approximately $20,482,901.77. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Shoven sold 50,000 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $45.00, for a total transaction of $2,250,000.00. Following the sale, the director now owns 196,189 shares in the company, valued at $8,828,505. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,110 shares of company stock worth $7,016,878. Company insiders own 2.55% of the company’s stock.

Shares of CDNS stock opened at $35.90 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.47 and a debt-to-equity ratio of 0.65. Cadence Design Systems Inc has a one year low of $30.92 and a one year high of $46.00. The company has a market capitalization of $10,474.06, a PE ratio of 34.24, a P/E/G ratio of 3.61 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm had revenue of $501.70 million for the quarter, compared to analyst estimates of $496.20 million. During the same period in the prior year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts expect that Cadence Design Systems Inc will post 0.85 earnings per share for the current 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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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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