Vident Investment Advisory LLC lifted its stake in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 35.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,784 shares of the software maker’s stock after acquiring an additional 113,513 shares during the quarter. Vident Investment Advisory LLC owned 0.15% of Cadence Design Systems worth $18,266,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Cadence Design Systems in the fourth quarter worth $123,000. Advisor Group Inc. boosted its position in shares of Cadence Design Systems by 151.4% in the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after buying an additional 2,505 shares during the period. MANA Advisors LLC acquired a new stake in shares of Cadence Design Systems in the fourth quarter worth $214,000. Coldstream Capital Management Inc. acquired a new stake in shares of Cadence Design Systems in the third quarter worth $207,000. Finally, Financial Partners Capital Management LLC acquired a new stake in shares of Cadence Design Systems in the third quarter worth $214,000. 86.73% of the stock is owned by institutional investors and hedge funds.
In other Cadence Design Systems news, CFO John M. Wall sold 750 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $43.95, for a total transaction of $32,962.50. Following the transaction, the chief financial officer now directly owns 109,323 shares in the company, valued at $4,804,745.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Anirudh Devgan sold 44,526 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.01, for a total value of $2,004,115.26. Following the transaction, the president now owns 377,019 shares in the company, valued at $16,969,625.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,110 shares of company stock valued at $7,016,878. 2.55% of the stock is owned by corporate insiders.
Shares of NASDAQ:CDNS opened at $35.90 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. Cadence Design Systems Inc has a 1 year low of $30.92 and a 1 year high of $46.00. The firm has a market cap of $10,389.09, a P/E ratio of 33.87, a PEG ratio of 3.58 and a beta of 1.14.
Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The business had revenue of $501.70 million during the quarter, compared to analyst estimates of $496.20 million. During the same period last year, the company earned $0.34 earnings per share. Cadence Design Systems’s quarterly revenue was up 7.0% compared to the same quarter last year. analysts anticipate that Cadence Design Systems Inc will post 0.85 earnings per share for the current year.
Several analysts have recently commented on CDNS shares. BidaskClub cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Zacks Investment Research cut Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, February 5th. ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $43.00 target price (up previously from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. Finally, DA Davidson raised Cadence Design Systems from a “neutral” rating to a “buy” rating in a research report on Thursday. One equities 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. Cadence Design Systems has an average rating of “Hold” and an average price target of $44.20.
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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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