Mondrian Capital Management LLC Has $3.90 Million Position in Cadence Design Systems Inc (NASDAQ:CDNS)

Mondrian Capital Management LLC cut its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 15.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 55,000 shares of the software maker’s stock after selling 10,000 shares during the quarter. Cadence Design Systems comprises 1.9% of Mondrian Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Mondrian Capital Management LLC’s holdings in Cadence Design Systems were worth $3,895,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CDNS. FMR LLC raised its position in shares of Cadence Design Systems by 14,036.2% in the 4th quarter. FMR LLC now owns 1,039,579 shares of the software maker’s stock valued at $45,200,000 after buying an additional 1,032,225 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Cadence Design Systems during the 1st quarter valued at approximately $39,027,000. Bank of Montreal Can grew its holdings in shares of Cadence Design Systems by 32.2% during the 1st quarter. Bank of Montreal Can now owns 2,345,436 shares of the software maker’s stock valued at $148,958,000 after purchasing an additional 571,924 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Cadence Design Systems by 61.8% during the 1st quarter. Teacher Retirement System of Texas now owns 753,544 shares of the software maker’s stock valued at $47,858,000 after purchasing an additional 287,865 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Cadence Design Systems by 263.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 370,413 shares of the software maker’s stock valued at $23,525,000 after purchasing an additional 268,473 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

Several equities research analysts recently issued reports on the stock. DA Davidson lifted their price target on shares of Cadence Design Systems to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC boosted their target price on shares of Cadence Design Systems to $76.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. BidaskClub lowered shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Royal Bank of Canada boosted their target price on shares of Cadence Design Systems to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, April 23rd. Finally, Wells Fargo & Co started coverage on shares of Cadence Design Systems in a research note on Tuesday, May 14th. They issued a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Cadence Design Systems presently has an average rating of “Buy” and a consensus price target of $64.25.

Shares of NASDAQ:CDNS traded up $0.93 during trading on Friday, reaching $69.07. The stock had a trading volume of 766,543 shares, compared to its average volume of 2,155,159. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.52 and a current ratio of 1.60. Cadence Design Systems Inc has a 52 week low of $39.08 and a 52 week high of $77.08. The firm’s fifty day moving average is $72.97 and its 200 day moving average is $65.25. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 56.15, a P/E/G ratio of 4.35 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 22nd. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Cadence Design Systems had a net margin of 18.83% and a return on equity of 31.86%. The company had revenue of $580.42 million for the quarter, compared to the consensus estimate of $579.41 million. During the same quarter in the previous year, the company earned $0.45 EPS. Cadence Design Systems’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts forecast that Cadence Design Systems Inc will post 1.48 earnings per share for the current fiscal year.

In other news, VP Aneel Zaman sold 4,766 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $68.25, for a total value of $325,279.50. Following the completion of the sale, the vice president now owns 243,772 shares in the company, valued at $16,637,439. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lip Bu Tan sold 40,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $67.80, for a total transaction of $2,712,000.00. Following the completion of the sale, the chief executive officer now owns 899,852 shares of the company’s stock, valued at approximately $61,009,965.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,911 shares of company stock worth $10,322,842. Corporate insiders own 2.34% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks 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, an enterprise emulation 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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