Cubist Systematic Strategies LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,301 shares of the software maker’s stock after selling 3,683 shares during the period. Cubist Systematic Strategies LLC’s holdings in Cadence Design Systems were worth $579,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CDNS. Teachers Advisors LLC lifted its stake in Cadence Design Systems by 8.2% during the first quarter. Teachers Advisors LLC now owns 376,033 shares of the software maker’s stock worth $11,807,000 after purchasing an additional 28,609 shares in the last quarter. Ngam Advisors L.P. lifted its stake in Cadence Design Systems by 5.5% during the first quarter. Ngam Advisors L.P. now owns 22,847 shares of the software maker’s stock worth $717,000 after purchasing an additional 1,186 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Cadence Design Systems during the first quarter worth $38,468,000. Schwab Charles Investment Management Inc. lifted its stake in Cadence Design Systems by 5.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 917,652 shares of the software maker’s stock worth $28,815,000 after purchasing an additional 50,775 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Cadence Design Systems during the first quarter worth $240,000. Institutional investors own 84.24% of the company’s stock.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at 42.28 on Friday. The stock has a 50 day moving average price of $39.60 and a 200 day moving average price of $35.74. The firm has a market capitalization of $11.85 billion, a PE ratio of 49.16 and a beta of 0.93. Cadence Design Systems, Inc. has a 52 week low of $24.15 and a 52 week high of $42.45.

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

In related news, CFO John M. Wall sold 750 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $40.68, for a total transaction of $30,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Geoffrey G. Ribar sold 35,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.31, for a total transaction of $1,305,850.00. Following the sale, the chief financial officer now directly owns 204,413 shares of the company’s stock, valued at $7,626,649.03. The disclosure for this sale can be found here. Insiders have sold a total of 260,786 shares of company stock valued at $10,186,400 over the last three months. Corporate insiders own 2.55% of the company’s stock.

CDNS has been the topic of a number of research reports. BidaskClub cut Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating on shares of Cadence Design Systems in a research note on Friday, July 7th. Bank of America Corporation upped their price target on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Thursday, July 27th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.25.

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Cadence Design Systems Company 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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