Beach Investment Counsel Inc. PA maintained its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel reports. The fund owned 9,224 shares of the software maker’s stock at the end of the second quarter. Beach Investment Counsel Inc. PA’s holdings in Cadence Design Systems were worth $309,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Creative Planning boosted its stake in Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after buying an additional 2,323 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock valued at $200,000 after buying an additional 31 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Cadence Design Systems during the first quarter valued at approximately $205,000. Janney Capital Management LLC bought a new stake in Cadence Design Systems during the first quarter valued at approximately $225,000. Finally, Atria Investments LLC bought a new stake in Cadence Design Systems during the second quarter valued at approximately $231,000. 86.47% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems, Inc. (NASDAQ CDNS) opened at 36.20 on Monday. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 42.09 and a beta of 0.94. Cadence Design Systems, Inc. has a 12 month low of $23.88 and a 12 month high of $37.51. The company has a 50-day moving average price of $34.68 and a 200 day moving average price of $32.19.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The company had revenue of $479 million during the quarter, compared to the consensus estimate of $476.21 million. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. Cadence Design Systems’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. Equities analysts predict that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current year.

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Several research analysts recently weighed in on CDNS shares. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Thursday, July 27th. Bank of America Corporation increased their price objective on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. BidaskClub lowered Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating on shares of Cadence Design Systems in a research report on Friday, July 7th. Finally, DA Davidson lowered Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.67.

In other Cadence Design Systems news, insider Aneel Zaman sold 29,406 shares of the business’s stock in a transaction on Friday, May 19th. The stock was 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 approximately $8,073,286.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $34.04, for a total value of $3,404,000.00. Following the completion of the transaction, the chief executive officer now owns 583,332 shares of the company’s stock, valued at $19,856,621.28. The disclosure for this sale can be found here. Insiders sold a total of 434,656 shares of company stock valued at $14,786,334 over the last quarter. 2.55% of the stock is currently owned by 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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