Spectrum Management Group Inc. Has $1.13 Million Holdings in Cadence Design Systems, Inc. (CDNS)

Spectrum Management Group Inc. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,522 shares of the software maker’s stock after buying an additional 2,465 shares during the quarter. Spectrum Management Group Inc.’s holdings in Cadence Design Systems were worth $1,126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CDNS. Teachers Advisors LLC lifted its stake in Cadence Design Systems by 8.2% during the first quarter. Teachers Advisors LLC now owns 376,033 shares of the software maker’s stock valued at $11,807,000 after buying an additional 28,609 shares in the last quarter. Capstone Asset Management Co. lifted its position in shares of Cadence Design Systems by 1.0% in the second quarter. Capstone Asset Management Co. now owns 27,461 shares of the software maker’s stock worth $920,000 after purchasing an additional 260 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its position in shares of Cadence Design Systems by 1,059.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 22,037 shares of the software maker’s stock worth $738,000 after purchasing an additional 20,137 shares in the last quarter. Creative Planning lifted its position in shares of Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock worth $110,000 after purchasing an additional 2,323 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of Cadence Design Systems by 490.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,258 shares of the software maker’s stock worth $1,516,000 after purchasing an additional 37,591 shares in the last quarter. 84.15% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on CDNS. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, November 1st. Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. BidaskClub lowered shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a research report on Friday, October 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $40.60.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $41.97, for a total transaction of $4,197,000.00. Following the transaction, the chief executive officer now owns 445,833 shares in the company, valued at $18,711,611.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Geoffrey G. Ribar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $36.88, for a total value of $184,400.00. Following the transaction, the chief financial officer now owns 174,413 shares in the company, valued at approximately $6,432,351.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,260 shares of company stock worth $9,318,032. Insiders own 2.55% of the company’s stock.

Shares of Cadence Design Systems, Inc. (CDNS) traded up $0.54 on Friday, reaching $44.86. 3,005,200 shares of the company traded hands, compared to its average volume of 2,340,689. The company has a market capitalization of $12,600.00, a price-to-earnings ratio of 47.66, a PEG ratio of 3.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. Cadence Design Systems, Inc. has a 52-week low of $24.15 and a 52-week high of $45.39.

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

TRADEMARK VIOLATION WARNING: “Spectrum Management Group Inc. Has $1.13 Million Holdings in Cadence Design Systems, Inc. (CDNS)” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://sportsperspectives.com/2017/11/17/spectrum-management-group-inc-has-1-13-million-holdings-in-cadence-design-systems-inc-cdns.html.

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)

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply