Cadence Design Systems Inc (NASDAQ:CDNS) Holdings Increased by Paloma Partners Management Co

Paloma Partners Management Co raised its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 122.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,574 shares of the software maker’s stock after acquiring an additional 22,869 shares during the quarter. Paloma Partners Management Co’s holdings in Cadence Design Systems were worth $1,738,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP raised its stake in shares of Cadence Design Systems by 894.0% during the 4th quarter. First Trust Advisors LP now owns 2,378,302 shares of the software maker’s stock worth $99,461,000 after buying an additional 2,139,046 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of Cadence Design Systems by 41.9% during the 4th quarter. APG Asset Management N.V. now owns 5,203,800 shares of the software maker’s stock worth $181,232,000 after buying an additional 1,536,559 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Cadence Design Systems by 60.1% during the 4th quarter. Guggenheim Capital LLC now owns 2,019,119 shares of the software maker’s stock worth $84,440,000 after buying an additional 757,648 shares during the last quarter. BlackRock Inc. raised its stake in shares of Cadence Design Systems by 3.5% during the 4th quarter. BlackRock Inc. now owns 19,696,293 shares of the software maker’s stock worth $823,698,000 after buying an additional 659,728 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Cadence Design Systems by 59.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,693,364 shares of the software maker’s stock worth $66,839,000 after buying an additional 630,135 shares during the last quarter. 86.73% of the stock is owned by institutional investors.

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Cadence Design Systems stock opened at $35.90 on Friday. The stock has a market cap of $10,389.09, a P/E ratio of 33.87, a P/E/G ratio of 3.58 and a beta of 1.14. Cadence Design Systems Inc has a 52 week low of $30.92 and a 52 week high of $46.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $501.70 million during the quarter, compared to analysts’ expectations of $496.20 million. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. sell-side analysts forecast that Cadence Design Systems Inc will post 0.85 earnings per share for the current year.

CDNS has been the subject of several research reports. Zacks Investment Research downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. BidaskClub downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Credit Suisse Group reaffirmed a “neutral” rating and set a $43.00 price target (up previously from $37.00) on shares of Cadence Design Systems in a research note on Thursday, February 1st. ValuEngine upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, DA Davidson upgraded Cadence Design Systems from a “neutral” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.20.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 25,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total value of $1,117,250.00. Following the completion of the sale, the chief executive officer now owns 458,333 shares in the company, valued at approximately $20,482,901.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 750 shares of Cadence Design Systems stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the completion of the sale, the chief financial officer now owns 129,673 shares of the company’s stock, valued at approximately $4,918,496.89. The disclosure for this sale can be found here. Insiders sold a total of 162,110 shares of company stock valued at $7,016,878 in the last 90 days. 2.55% of the stock is owned by company insiders.

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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).

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

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