AlphaMark Advisors LLC Sells 4,422 Shares of Cadence Design Systems, Inc. (CDNS)

AlphaMark Advisors LLC lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,737 shares of the software maker’s stock after selling 4,422 shares during the quarter. Cadence Design Systems comprises 1.7% of AlphaMark Advisors LLC’s holdings, making the stock its 18th biggest position. AlphaMark Advisors LLC’s holdings in Cadence Design Systems were worth $3,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Cadence Design Systems by 73,454.0% during the 2nd 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. APG Asset Management N.V. increased its stake in Cadence Design Systems by 20,049.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,667,241 shares of the software maker’s stock valued at $144,746,000 after purchasing an additional 3,649,041 shares in the last quarter. AJO LP increased its stake in Cadence Design Systems by 416.3% during the 2nd quarter. AJO LP now owns 1,757,187 shares of the software maker’s stock valued at $58,848,000 after purchasing an additional 1,416,833 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Cadence Design Systems by 88.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,941,000 shares of the software maker’s stock valued at $116,081,000 after purchasing an additional 1,378,800 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Cadence Design Systems by 226.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,721,641 shares of the software maker’s stock valued at $57,658,000 after purchasing an additional 1,193,576 shares in the last quarter. Hedge funds and other institutional investors own 84.15% of the company’s stock.

A number of research firms have recently weighed in on CDNS. Credit Suisse Group reiterated an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 price target on shares of Cadence Design Systems in a report on Friday, October 27th. DA Davidson increased their price target on shares of 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. Bank of America Corporation increased their price target on shares of Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.60.

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Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) traded up $0.54 during midday trading on Friday, hitting $44.86. 3,005,200 shares of the stock were exchanged, compared to its average volume of 2,340,689. The firm has a market capitalization of $12,670.00, a PE ratio of 47.66, a price-to-earnings-growth ratio of 3.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72. Cadence Design Systems, Inc. has a 1-year low of $24.15 and a 1-year high of $45.39.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $485.40 million during the quarter, compared to analysts’ expectations of $481.10 million. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. equities research analysts expect that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current fiscal year.

In related news, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.97, for a total transaction of $4,197,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,833 shares in the company, valued at $18,711,611.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Geoffrey G. Ribar sold 5,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $36.88, for a total transaction of $184,400.00. Following the sale, the chief financial officer now owns 174,413 shares of the company’s stock, valued at $6,432,351.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,260 shares of company stock valued at $9,318,032. 2.55% of the stock is owned by company insiders.

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).

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

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