Segantii Capital Management Ltd acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,000 shares of the software maker’s stock, valued at approximately $603,000.

Several other large investors have also recently modified their holdings of CDNS. Sumitomo Life Insurance Co. boosted its stake in shares of Cadence Design Systems by 0.7% in the first quarter. Sumitomo Life Insurance Co. now owns 53,389 shares of the software maker’s stock worth $1,676,000 after buying an additional 392 shares during the last quarter. Janney Capital Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth $225,000. Glen Harbor Capital Management LLC boosted its stake in shares of Cadence Design Systems by 53.2% in the first quarter. Glen Harbor Capital Management LLC now owns 18,810 shares of the software maker’s stock worth $591,000 after buying an additional 6,534 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth $81,715,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Cadence Design Systems during the first quarter worth $11,825,000. 86.47% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems, Inc. (NASDAQ CDNS) opened at 36.56 on Thursday. The firm has a market capitalization of $10.24 billion, a PE ratio of 42.51 and a beta of 0.94. Cadence Design Systems, Inc. has a 1-year low of $24.03 and a 1-year high of $37.51. The company’s 50-day moving average price is $35.06 and its 200 day moving average price is $32.56.

Cadence Design Systems (NASDAQ:CDNS) last issued its 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 business had revenue of $479 million for the quarter, compared to analyst estimates of $476.21 million. During the same period last year, the company posted $0.29 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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A number of brokerages have recently weighed in on CDNS. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday, July 27th. BidaskClub raised Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Bank of America Corporation lifted their price objective 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. Royal Bank Of Canada lifted their price objective 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. Finally, DA Davidson cut Cadence Design Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.67.

In other Cadence Design Systems news, VP James J. Cowie sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $33.28, for a total value of $1,830,400.00. Following the transaction, the vice president now directly owns 137,332 shares of the company’s stock, valued at $4,570,408.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aneel Zaman sold 29,406 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $32.62, for a total value of $959,223.72. Following the completion of the transaction, the insider now directly owns 247,495 shares in the company, valued at $8,073,286.90. The disclosure for this sale can be found here. Insiders sold 434,656 shares of company stock worth $14,786,334 over the last three months. 2.55% of the stock is currently owned by corporate insiders.

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

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