Cadence Design Systems Inc (CDNS) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 480,589 shares of the software maker’s stock after selling 8,847 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.17% of Cadence Design Systems worth $20,815,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CDNS. Conning Inc. bought a new position in shares of Cadence Design Systems during the second quarter worth approximately $217,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Cadence Design Systems during the first quarter worth approximately $204,000. Intact Investment Management Inc. bought a new position in shares of Cadence Design Systems during the first quarter worth approximately $206,000. United Capital Financial Advisers LLC bought a new position in shares of Cadence Design Systems during the first quarter worth approximately $206,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Cadence Design Systems by 114.8% during the first quarter. Thompson Siegel & Walmsley LLC now owns 5,800 shares of the software maker’s stock worth $213,000 after purchasing an additional 3,100 shares during the period. Hedge funds and other institutional investors own 88.66% of the company’s stock.

A number of equities analysts have recently weighed in on CDNS shares. JPMorgan Chase & Co. increased their target price on Cadence Design Systems from $42.00 to $49.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 24th. Credit Suisse Group increased their target price on Cadence Design Systems from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. Griffin Securities increased their target price on Cadence Design Systems from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. DA Davidson increased their target price on Cadence Design Systems to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, BidaskClub upgraded Cadence Design Systems from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $48.43.

In related news, Director James D. Plummer sold 7,500 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $46.49, for a total transaction of $348,675.00. Following the sale, the director now owns 21,526 shares of the company’s stock, valued at $1,000,743.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $45.14, for a total value of $4,514,000.00. Following the sale, the chief executive officer now directly owns 552,813 shares in the company, valued at approximately $24,953,978.82. The disclosure for this sale can be found here. Insiders have sold 209,000 shares of company stock worth $9,411,605 in the last three months. 2.28% of the stock is currently owned by company insiders.

Shares of NASDAQ CDNS opened at $45.36 on Tuesday. The company has a market cap of $12.78 billion, a PE ratio of 42.79, a PEG ratio of 3.78 and a beta of 1.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.26 and a current ratio of 1.30. Cadence Design Systems Inc has a 1-year low of $35.49 and a 1-year high of $46.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 23rd. The software maker reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. The business had revenue of $518.40 million for the quarter, compared to the consensus estimate of $514.94 million. Cadence Design Systems had a return on equity of 28.38% and a net margin of 10.62%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. equities research analysts predict that Cadence Design Systems Inc will post 1 earnings per share for the current year.

Cadence Design Systems Company 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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