Zweig DiMenna Associates LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,600 shares of the software maker’s stock, valued at approximately $458,000.

A number of other institutional investors and hedge funds have also modified their holdings of CDNS. Janus Henderson Group PLC raised its position in Cadence Design Systems by 73,454.0% during the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock valued at $693,303,000 after acquiring an additional 20,673,635 shares in the last quarter. APG Asset Management N.V. raised its position in Cadence Design Systems by 20,049.7% during the third quarter. APG Asset Management N.V. now owns 3,667,241 shares of the software maker’s stock valued at $144,746,000 after acquiring an additional 3,649,041 shares in the last quarter. AJO LP raised its position in Cadence Design Systems by 416.3% during the second quarter. AJO LP now owns 1,757,187 shares of the software maker’s stock valued at $58,848,000 after acquiring an additional 1,416,833 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Cadence Design Systems by 88.3% during the third quarter. Canada Pension Plan Investment Board now owns 2,941,000 shares of the software maker’s stock valued at $116,081,000 after acquiring an additional 1,378,800 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Cadence Design Systems by 226.0% during the second quarter. Prudential Financial Inc. now owns 1,721,641 shares of the software maker’s stock valued at $57,658,000 after acquiring an additional 1,193,576 shares in the last quarter. 84.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up $0.49 during mid-day trading on Monday, reaching $44.04. The company’s stock had a trading volume of 2,761,500 shares, compared to its average volume of 2,342,111. Cadence Design Systems, Inc. has a one year low of $24.15 and a one year high of $44.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. The firm has a market capitalization of $12,435.13, a P/E ratio of 47.35, a PEG ratio of 3.47 and a beta of 0.94.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The company had revenue of $485.40 million for the quarter, compared to the consensus estimate of $481.10 million. During the same quarter last year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. sell-side analysts expect that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “11,600 Shares in Cadence Design Systems, Inc. (CDNS) Acquired by Zweig DiMenna Associates LLC” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.watchlistnews.com/11600-shares-in-cadence-design-systems-inc-cdns-acquired-by-zweig-dimenna-associates-llc-3/1700318.html.

In other Cadence Design Systems news, CFO Geoffrey G. Ribar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $36.88, for a total transaction of $184,400.00. Following the transaction, the chief financial officer now owns 174,413 shares in the company, valued at $6,432,351.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $37.18, for a total value of $3,718,000.00. Following the transaction, the chief executive officer now owns 583,332 shares in the company, valued at approximately $21,688,283.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,786 shares of company stock worth $10,962,920. Corporate insiders own 2.55% of the company’s stock.

CDNS has been the topic of several recent research reports. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. DA Davidson raised their price objective on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Royal Bank Of Canada raised their price objective on shares of Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Bank of America Corporation raised their price objective on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.60.

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).

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS).

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

Receive News & Ratings for Cadence Design Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.