FUKOKU MUTUAL LIFE INSURANCE Co maintained its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,200 shares of the software maker’s stock at the close of the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Cadence Design Systems were worth $208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDNS. BlackRock Inc. lifted its position in Cadence Design Systems by 6,398.5% during the first quarter. BlackRock Inc. now owns 26,541,567 shares of the software maker’s stock worth $833,406,000 after acquiring an additional 26,133,138 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cadence Design Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 24,488,691 shares of the software maker’s stock worth $820,127,000 after acquiring an additional 516,100 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Cadence Design Systems by 48.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,771,026 shares of the software maker’s stock worth $149,811,000 after acquiring an additional 1,549,905 shares during the period. Pictet Asset Management Ltd. boosted its holdings in shares of Cadence Design Systems by 2.7% during the second quarter. Pictet Asset Management Ltd. now owns 4,191,828 shares of the software maker’s stock worth $147,301,000 after acquiring an additional 108,344 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Cadence Design Systems by 32.8% during the second quarter. Bank of Montreal Can now owns 3,158,114 shares of the software maker’s stock worth $105,765,000 after acquiring an additional 780,585 shares during the period. Institutional investors and hedge funds own 84.27% of the company’s stock.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up 0.10% during mid-day trading on Wednesday, reaching $40.10. 169,655 shares of the company’s stock traded hands. The company has a market cap of $11.24 billion, a P/E ratio of 46.63 and a beta of 0.93. The firm has a 50-day moving average of $38.18 and a 200 day moving average of $34.88. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $40.19.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $476.21 million. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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Several equities analysts have recently commented on CDNS shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. BidaskClub raised Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, July 27th. Bank of America Corporation boosted their price target on Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada boosted their price target on Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.67.

In other news, CFO Geoffrey G. Ribar sold 5,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $36.88, for a total value of $184,400.00. Following the completion of the transaction, the chief financial officer now owns 174,413 shares in the company, valued at $6,432,351.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Geoffrey G. Ribar sold 15,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $37.55, for a total transaction of $563,250.00. Following the completion of the transaction, the chief financial officer now owns 184,413 shares of the company’s stock, valued at approximately $6,924,708.15. The disclosure for this sale can be found here. Insiders sold a total of 316,286 shares of company stock worth $11,395,640 over the last 90 days. 2.55% of the stock is currently owned by company insiders.

Cadence Design Systems 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).

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

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