Cadence Design Systems Inc (CDNS) Shares Bought by Guggenheim Capital LLC

Guggenheim Capital LLC lifted its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 4.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,103,843 shares of the software maker’s stock after buying an additional 84,724 shares during the quarter. Guggenheim Capital LLC owned about 0.75% of Cadence Design Systems worth $77,358,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new stake in Cadence Design Systems during the 1st quarter worth about $204,000. Intact Investment Management Inc. bought a new stake in Cadence Design Systems during the 1st quarter worth about $206,000. United Capital Financial Advisers LLC bought a new stake in Cadence Design Systems during the 1st quarter worth about $206,000. Thompson Siegel & Walmsley LLC raised its holdings in Cadence Design Systems by 114.8% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 5,800 shares of the software maker’s stock worth $213,000 after purchasing an additional 3,100 shares during the last quarter. Finally, MANA Advisors LLC bought a new stake in Cadence Design Systems during the 4th quarter worth about $214,000. 86.00% of the stock is owned by hedge funds and other institutional investors.

Shares of CDNS stock opened at $44.58 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $12.47 billion, a PE ratio of 42.06, a P/E/G ratio of 3.87 and a beta of 1.12. Cadence Design Systems Inc has a one year low of $32.85 and a one year high of $46.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 23rd. The software maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $517.00 million during the quarter, compared to analysts’ expectations of $505.33 million. Cadence Design Systems had a return on equity of 29.43% and a net margin of 10.52%. Cadence Design Systems’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. sell-side analysts expect that Cadence Design Systems Inc will post 0.95 earnings per share for the current fiscal year.

In related news, CFO John M. Wall sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $44.14, for a total value of $33,105.00. Following the completion of the transaction, the chief financial officer now directly owns 119,274 shares in the company, valued at approximately $5,264,754.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aneel Zaman sold 43,733 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $40.02, for a total value of $1,750,194.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,763 shares of company stock valued at $3,425,839. 2.28% of the stock is currently owned by company insiders.

CDNS has been the subject of several recent research reports. DA Davidson raised Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub cut Cadence Design Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 13th. JPMorgan Chase & Co. upped their price target on Cadence Design Systems from $34.00 to $42.00 and gave the company an “underweight” rating in a research note on Tuesday, April 24th. Finally, Needham & Company LLC raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.71.

Cadence Design Systems Company Profile

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

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