HBK Investments L P decreased its position in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 16.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,800 shares of the software maker’s stock after selling 9,009 shares during the quarter. HBK Investments L P’s holdings in Cadence Design Systems were worth $1,874,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth about $123,000. Advisor Group Inc. lifted its holdings in shares of Cadence Design Systems by 151.4% during the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after purchasing an additional 2,505 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of Cadence Design Systems during the third quarter worth about $207,000. Financial Partners Capital Management LLC acquired a new stake in shares of Cadence Design Systems during the third quarter worth about $214,000. Finally, MANA Advisors LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth about $214,000. 86.73% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on CDNS shares. KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. BidaskClub downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Zacks Investment Research downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Credit Suisse Group reaffirmed a “neutral” rating and set a $43.00 target price (up previously from $37.00) on shares of Cadence Design Systems in a report on Thursday, February 1st. Finally, ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.20.
In other news, CFO John M. Wall sold 1,021 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $39.25, for a total value of $40,074.25. Following the completion of the sale, the chief financial officer now directly owns 127,972 shares in the company, valued at $5,022,901. 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 the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $43.95, for a total value of $32,962.50. Following the completion of the sale, the chief financial officer now owns 109,323 shares of the company’s stock, valued at $4,804,745.85. The disclosure for this sale can be found here. Insiders sold 162,110 shares of company stock valued at $7,016,878 over the last three months. 2.55% of the stock is currently owned by corporate insiders.
Cadence Design Systems Inc (NASDAQ:CDNS) opened at $38.23 on Tuesday. Cadence Design Systems Inc has a twelve month low of $30.35 and a twelve month high of $46.00. The stock has a market capitalization of $10,915.91, a P/E ratio of 51.66, a price-to-earnings-growth ratio of 3.77 and a beta of 1.08. 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 announced its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The company had revenue of $501.70 million during the quarter, compared to the consensus estimate of $496.20 million. During the same period in the previous year, the company posted $0.34 earnings per share. Cadence Design Systems’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts predict that Cadence Design Systems Inc will post 0.85 EPS for the current fiscal year.
About Cadence Design Systems
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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