Oppenheimer Asset Management Inc. trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,436 shares of the software maker’s stock after selling 205 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cadence Design Systems were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Cadence Design Systems by 6,398.5% during the first quarter. BlackRock Inc. now owns 26,541,567 shares of the software maker’s stock worth $833,406,000 after acquiring an additional 26,133,138 shares during the period. Vanguard Group Inc. grew its holdings in Cadence Design Systems by 1.1% during the first quarter. Vanguard Group Inc. now owns 23,972,591 shares of the software maker’s stock worth $752,740,000 after acquiring an additional 264,529 shares during the period. Goldman Sachs Group Inc. grew its holdings in Cadence Design Systems by 48.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,771,026 shares of the software maker’s stock worth $149,811,000 after acquiring an additional 1,549,905 shares during the period. Pictet Asset Management Ltd. grew its holdings in Cadence Design Systems by 2.7% during the second quarter. Pictet Asset Management Ltd. now owns 4,191,828 shares of the software maker’s stock worth $147,301,000 after acquiring an additional 108,344 shares during the period. Finally, Bank of Montreal Can grew its holdings in Cadence Design Systems by 32.8% during the second quarter. Bank of Montreal Can now owns 3,158,114 shares of the software maker’s stock worth $105,765,000 after acquiring an additional 780,585 shares during the period. 84.27% of the stock is currently owned by hedge funds and other institutional investors.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $34.68, for a total transaction of $3,468,000.00. Following the transaction, the chief executive officer now owns 583,332 shares in the company, valued at approximately $20,229,953.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Geoffrey G. Ribar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $37.55, for a total value of $563,250.00. Following the transaction, the chief financial officer now owns 184,413 shares in the company, valued at approximately $6,924,708.15. The disclosure for this sale can be found here. Insiders have sold a total of 316,286 shares of company stock worth $11,395,640 in the last quarter. 2.55% of the stock is currently owned by insiders.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at 38.82 on Wednesday. Cadence Design Systems, Inc. has a one year low of $24.15 and a one year high of $39.49. The firm has a 50-day moving average price of $37.47 and a 200 day moving average price of $34.33. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 45.14 and a beta of 0.92.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $476.21 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current fiscal year.

Several analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cadence Design Systems in a report on Friday, July 7th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. BidaskClub lowered Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, July 27th. Finally, Bank of America Corporation raised their price objective on Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Cadence Design Systems currently has a consensus rating of “Buy” and a consensus price target of $33.67.

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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).

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

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