Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by UBS Group AG

UBS Group AG trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) by 49.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,847 shares of the software maker’s stock after selling 222,223 shares during the quarter. UBS Group AG’s holdings in Cadence Design Systems were worth $34,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. San Luis Wealth Advisors LLC purchased a new stake in Cadence Design Systems during the first quarter valued at about $28,000. SeaCrest Wealth Management LLC purchased a new stake in Cadence Design Systems during the second quarter valued at about $29,000. MV Capital Management Inc. lifted its stake in Cadence Design Systems by 74.1% during the first quarter. MV Capital Management Inc. now owns 188 shares of the software maker’s stock valued at $31,000 after buying an additional 80 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in Cadence Design Systems by 108.3% during the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after buying an additional 117 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in Cadence Design Systems during the first quarter valued at about $39,000. 84.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cadence Design Systems in a research note on Wednesday, September 28th. They set a “buy” rating and a $200.00 price objective for the company. Rosenblatt Securities dropped their target price on Cadence Design Systems from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Robert W. Baird dropped their target price on Cadence Design Systems from $204.00 to $198.00 in a report on Tuesday, October 25th. Finally, Wolfe Research initiated coverage on Cadence Design Systems in a report on Tuesday, August 16th. They issued an “outperform” rating and a $210.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.75.

Cadence Design Systems Trading Up 1.4 %

NASDAQ:CDNS opened at $167.51 on Thursday. The stock’s 50 day moving average price is $158.57 and its 200 day moving average price is $161.23. Cadence Design Systems, Inc. has a 52 week low of $132.32 and a 52 week high of $194.97. The company has a market capitalization of $45.95 billion, a P/E ratio of 58.98, a P/E/G ratio of 2.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last released its quarterly earnings data on Monday, October 24th. The software maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.10. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The firm had revenue of $902.55 million for the quarter, compared to the consensus estimate of $868.85 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. On average, research analysts forecast that Cadence Design Systems, Inc. will post 3.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Aneel Zaman sold 1,409 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $184.42, for a total transaction of $259,847.78. Following the completion of the sale, the vice president now owns 92,284 shares of the company’s stock, valued at $17,019,015.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cadence Design Systems news, CEO Anirudh Devgan sold 1,523 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $176.34, for a total transaction of $268,565.82. Following the completion of the sale, the chief executive officer now owns 180,859 shares of the company’s stock, valued at $31,892,676.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Aneel Zaman sold 1,409 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $184.42, for a total value of $259,847.78. Following the sale, the vice president now directly owns 92,284 shares of the company’s stock, valued at approximately $17,019,015.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,889 shares of company stock worth $39,137,833. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Profile

(Get Rating)

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

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

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