Equities researchers at Berenberg Bank began coverage on shares of Cadence Design Systems (NASDAQ:CDNS) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “hold” rating on the software maker’s stock.

Several other equities research analysts also recently commented on the company. BidaskClub downgraded Cadence Design Systems from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a report on Thursday, October 25th. Benchmark raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. raised Cadence Design Systems from an “underweight” rating to a “neutral” rating and raised their price target for the company from $49.00 to $51.00 in a report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $50.86.

NASDAQ CDNS opened at $42.77 on Tuesday. The company has a market capitalization of $12.91 billion, a PE ratio of 40.35, a P/E/G ratio of 3.28 and a beta of 1.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.64 and a quick ratio of 1.58. Cadence Design Systems has a 12 month low of $35.49 and a 12 month high of $47.40.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 22nd. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $532.47 million during the quarter, compared to the consensus estimate of $516.50 million. Cadence Design Systems had a return on equity of 28.44% and a net margin of 11.25%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts forecast that Cadence Design Systems will post 1.16 earnings per share for the current year.

In other Cadence Design Systems news, insider Aneel Zaman sold 32,995 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $44.46, for a total transaction of $1,466,957.70. Following the completion of the sale, the insider now owns 202,927 shares of the company’s stock, valued at approximately $9,022,134.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lip Bu Tan sold 5,469 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $46.10, for a total value of $252,120.90. Following the sale, the chief executive officer now directly owns 424,566 shares of the company’s stock, valued at approximately $19,572,492.60. The disclosure for this sale can be found here. Insiders have sold a total of 213,471 shares of company stock valued at $9,763,272 in the last ninety days. Insiders own 2.28% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CDNS. Xact Kapitalforvaltning AB lifted its holdings in shares of Cadence Design Systems by 11.5% during the second quarter. Xact Kapitalforvaltning AB now owns 34,984 shares of the software maker’s stock worth $1,515,000 after buying an additional 3,600 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Cadence Design Systems by 16.9% during the second quarter. Acadian Asset Management LLC now owns 1,797,529 shares of the software maker’s stock worth $77,852,000 after buying an additional 259,675 shares in the last quarter. Unigestion Holding SA acquired a new stake in shares of Cadence Design Systems during the second quarter worth $616,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Cadence Design Systems by 136.4% during the second quarter. BNP Paribas Arbitrage SA now owns 786,338 shares of the software maker’s stock worth $34,056,000 after buying an additional 453,673 shares in the last quarter. Finally, Conning Inc. acquired a new stake in shares of Cadence Design Systems during the second quarter worth $217,000. 88.26% of the stock is owned by institutional investors and hedge funds.

About Cadence Design Systems

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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