Dimensional Fund Advisors LP Purchases 6,507 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

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Dimensional Fund Advisors LP boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 614,094 shares of the software maker’s stock after buying an additional 6,507 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.23% of Cadence Design Systems worth $129,003,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CDNS. Ignite Planners LLC grew its holdings in Cadence Design Systems by 4.4% in the 1st quarter. Ignite Planners LLC now owns 1,260 shares of the software maker’s stock valued at $269,000 after buying an additional 53 shares during the last quarter. Allworth Financial LP grew its position in Cadence Design Systems by 14.4% in the 1st quarter. Allworth Financial LP now owns 454 shares of the software maker’s stock worth $95,000 after purchasing an additional 57 shares during the last quarter. Core Alternative Capital increased its holdings in shares of Cadence Design Systems by 60.6% during the 1st quarter. Core Alternative Capital now owns 159 shares of the software maker’s stock worth $33,000 after purchasing an additional 60 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Cadence Design Systems by 70.5% in the first quarter. AdvisorNet Financial Inc now owns 150 shares of the software maker’s stock valued at $32,000 after buying an additional 62 shares during the period. Finally, ETF Managers Group LLC grew its position in Cadence Design Systems by 1.5% during the first quarter. ETF Managers Group LLC now owns 4,388 shares of the software maker’s stock worth $922,000 after buying an additional 65 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 1,523 shares of Cadence Design Systems stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $233.97, for a total value of $356,336.31. Following the transaction, the chief executive officer now owns 144,944 shares in the company, valued at $33,912,547.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Anirudh Devgan sold 1,523 shares of Cadence Design Systems stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $233.97, for a total transaction of $356,336.31. Following the sale, the chief executive officer now directly owns 144,944 shares of the company’s stock, valued at $33,912,547.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 49,104 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $229.09, for a total transaction of $11,249,235.36. Following the sale, the chief financial officer now owns 89,550 shares in the company, valued at $20,515,009.50. The disclosure for this sale can be found here. Insiders sold 79,269 shares of company stock worth $18,359,051 over the last three months. Insiders own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 25th. Stifel Nicolaus raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $210.00 to $300.00 in a research note on Thursday, July 20th. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America lifted their price objective on Cadence Design Systems from $280.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, KeyCorp increased their target price on Cadence Design Systems from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.22.

Get Our Latest Analysis on Cadence Design Systems

Cadence Design Systems Stock Up 0.8 %

Cadence Design Systems stock opened at $245.51 on Wednesday. The company’s 50-day moving average price is $233.33 and its two-hundred day moving average price is $219.31. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market cap of $66.73 billion, a P/E ratio of 75.31, a P/E/G ratio of 3.25 and a beta of 1.03. Cadence Design Systems, Inc. has a twelve month low of $138.76 and a twelve month high of $248.16.

Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last announced its earnings results on Monday, July 24th. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.04. Cadence Design Systems had a net margin of 23.41% and a return on equity of 33.79%. The company had revenue of $977.00 million during the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. Cadence Design Systems’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, analysts expect that Cadence Design Systems, Inc. will post 4.1 EPS for the current year.

Cadence Design Systems Company Profile

(Free Report)

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 logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

Further Reading

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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