Two Sigma Advisers LP lowered its holdings in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 29.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 646,721 shares of the software maker’s stock after selling 274,973 shares during the period. Two Sigma Advisers LP owned about 0.23% of Cadence Design Systems worth $27,046,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC bought a new stake in Cadence Design Systems during the 4th quarter worth $123,000. Advisor Group Inc. grew its position in Cadence Design Systems by 151.4% during the 3rd quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after acquiring an additional 2,505 shares during the last quarter. MANA Advisors LLC bought a new stake in Cadence Design Systems during the 4th quarter worth $214,000. Coldstream Capital Management Inc. bought a new stake in Cadence Design Systems during the 3rd quarter worth $207,000. Finally, Financial Partners Capital Management LLC bought a new stake in Cadence Design Systems during the 3rd quarter worth $214,000. 86.73% of the stock is owned by institutional investors.
In related news, CEO Lip Bu Tan sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total transaction of $1,117,250.00. Following the sale, the chief executive officer now owns 458,333 shares in the company, valued at approximately $20,482,901.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 1,021 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $39.25, for a total value of $40,074.25. Following the sale, the chief financial officer now owns 127,972 shares in the company, valued at approximately $5,022,901. The disclosure for this sale can be found here. Insiders sold a total of 162,110 shares of company stock worth $7,016,878 in the last quarter. Corporate insiders own 2.55% of the company’s stock.
Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The firm had revenue of $501.70 million for the quarter, compared to analyst estimates of $496.20 million. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 7.0% on a year-over-year basis. equities research analysts expect that Cadence Design Systems Inc will post 0.85 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on CDNS shares. KeyCorp restated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. Zacks Investment Research lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. BidaskClub lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Credit Suisse Group restated a “neutral” rating and set a $43.00 price objective (up previously from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. Finally, ValuEngine upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Cadence Design Systems presently has a consensus rating of “Hold” and a consensus target price of $44.20.
Cadence Design Systems Company 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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