Schroder Investment Management Group lowered its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 16.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,272,988 shares of the software maker’s stock after selling 258,055 shares during the quarter. Schroder Investment Management Group owned 0.45% of Cadence Design Systems worth $54,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. Parnassus Investments CA bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $460,597,000. Legal & General Group Plc lifted its stake in Cadence Design Systems by 197.6% during the 1st quarter. Legal & General Group Plc now owns 1,730,484 shares of the software maker’s stock valued at $63,622,000 after acquiring an additional 1,148,997 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in Cadence Design Systems by 34.5% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 4,110,009 shares of the software maker’s stock valued at $151,125,000 after acquiring an additional 1,054,136 shares in the last quarter. Millennium Management LLC lifted its stake in Cadence Design Systems by 89.6% during the 1st quarter. Millennium Management LLC now owns 2,097,474 shares of the software maker’s stock valued at $77,124,000 after acquiring an additional 991,219 shares in the last quarter. Finally, Ardevora Asset Management LLP bought a new position in Cadence Design Systems during the 2nd quarter valued at $34,335,000. 87.30% of the stock is owned by institutional investors.

In related news, CEO Lip Bu Tan sold 5,469 shares of Cadence Design Systems stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $46.10, for a total value of $252,120.90. Following the completion of the sale, the chief executive officer now owns 424,566 shares of the company’s stock, valued at approximately $19,572,492.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James D. Plummer sold 7,500 shares of Cadence Design Systems stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $46.49, for a total value of $348,675.00. Following the completion of the sale, the director now directly owns 21,526 shares of the company’s stock, valued at approximately $1,000,743.74. The disclosure for this sale can be found here. In the last three months, insiders sold 233,445 shares of company stock valued at $10,584,163. 2.28% of the stock is currently owned by insiders.

Shares of Cadence Design Systems stock traded up $0.86 during trading hours on Friday, hitting $39.99. 2,943,690 shares of the company’s stock traded hands, compared to its average volume of 2,155,160. Cadence Design Systems Inc has a 12-month low of $35.49 and a 12-month high of $47.40. The firm has a market cap of $12.82 billion, a PE ratio of 37.73, a P/E/G ratio of 3.83 and a beta of 1.13. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.30 and a quick ratio of 1.26.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 23rd. The software maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. Cadence Design Systems had a return on equity of 28.38% and a net margin of 10.62%. The firm had revenue of $518.40 million during the quarter, compared to analyst estimates of $514.94 million. During the same period last year, the firm posted $0.34 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Cadence Design Systems Inc will post 0.99 EPS for the current fiscal year.

Several brokerages have weighed in on CDNS. BidaskClub cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. DA Davidson raised their price objective on Cadence Design Systems to $52.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Needham & Company LLC raised their price objective on Cadence Design Systems from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research cut Cadence Design Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Griffin Securities raised their target price on Cadence Design Systems from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $48.43.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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