Cadence Design Systems Inc (NASDAQ:CDNS) Shares Bought by Neuburgh Advisers LLC

Neuburgh Advisers LLC boosted its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 357.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,608 shares of the software maker’s stock after buying an additional 25,472 shares during the quarter. Neuburgh Advisers LLC’s holdings in Cadence Design Systems were worth $2,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDNS. Vanguard Group Inc lifted its holdings in shares of Cadence Design Systems by 1.0% in the third quarter. Vanguard Group Inc now owns 32,476,936 shares of the software maker’s stock worth $1,471,854,000 after acquiring an additional 324,296 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cadence Design Systems by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,865,053 shares of the software maker’s stock worth $994,172,000 after acquiring an additional 272,342 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cadence Design Systems by 0.8% in the first quarter. BlackRock Inc. now owns 20,544,570 shares of the software maker’s stock worth $1,304,786,000 after acquiring an additional 166,387 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,535,500 shares of the software maker’s stock worth $196,926,000 after acquiring an additional 235,512 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cadence Design Systems by 3.6% in the fourth quarter. Northern Trust Corp now owns 3,403,417 shares of the software maker’s stock worth $147,980,000 after acquiring an additional 117,103 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

A number of research analysts recently issued reports on the stock. BidaskClub lowered shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective for the company in a report on Friday, February 22nd. Credit Suisse Group raised their price objective on shares of Cadence Design Systems from $46.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. ValuEngine upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. Finally, KeyCorp assumed coverage on shares of Cadence Design Systems in a report on Wednesday, April 10th. They issued a “sector weight” rating for the company. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $59.44.

In other news, President Anirudh Devgan sold 52,466 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $63.83, for a total transaction of $3,348,904.78. Following the completion of the sale, the president now owns 494,480 shares of the company’s stock, valued at approximately $31,562,658.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Surendra Babu Mandava sold 4,235 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.87, for a total transaction of $274,724.45. Following the sale, the insider now directly owns 305,888 shares of the company’s stock, valued at approximately $19,842,954.56. The disclosure for this sale can be found here. Insiders have sold a total of 211,645 shares of company stock valued at $13,625,475 in the last three months. Insiders own 2.34% of the company’s stock.

NASDAQ:CDNS opened at $68.10 on Friday. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 4.31 and a beta of 1.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.39. Cadence Design Systems Inc has a fifty-two week low of $39.08 and a fifty-two week high of $70.49.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 22nd. The software maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. The business had revenue of $577.00 million during the quarter, compared to the consensus estimate of $569.34 million. Cadence Design Systems had a net margin of 17.91% and a return on equity of 30.86%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, sell-side analysts expect that Cadence Design Systems Inc will post 1.46 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This article was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.chaffeybreeze.com/2019/06/14/cadence-design-systems-inc-nasdaqcdns-shares-bought-by-neuburgh-advisers-llc.html.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks 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, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

Featured Article: Holder of Record

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems Inc (NASDAQ:CDNS).

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

Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.