Cadence Design Systems, Inc. (NASDAQ:CDNS) – Griffin Securities raised their Q1 2019 earnings estimates for shares of Cadence Design Systems in a report issued on Tuesday. Griffin Securities analyst J. Vleeschhouwer now anticipates that the software maker will earn $0.24 per share for the quarter, up from their prior forecast of $0.23. Griffin Securities also issued estimates for Cadence Design Systems’ Q2 2019 earnings at $0.27 EPS and FY2019 earnings at $1.15 EPS.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada restated a “buy” rating and issued a $33.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 18th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday. 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 report on Tuesday. BidaskClub cut Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, DA Davidson cut Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.67.

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Shares of Cadence Design Systems (NASDAQ CDNS) traded down 1.00% on Thursday, reaching $36.81. The company’s stock had a trading volume of 1,601,474 shares. The company’s 50-day moving average is $34.46 and its 200 day moving average is $31.83. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 47.31 and a beta of 0.93. Cadence Design Systems has a 12-month low of $23.83 and a 12-month high of $37.51.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 24th. The software maker reported $0.34 EPS for the quarter, topping the 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 business had revenue of $479 million during the quarter, compared to the consensus estimate of $476.21 million. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year.

In other news, insider Aneel Zaman sold 29,406 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $32.62, for a total value of $959,223.72. Following the completion of the transaction, the insider now owns 247,495 shares of the company’s stock, valued at $8,073,286.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. Beckley sold 56,250 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $35.00, for a total value of $1,968,750.00. Following the completion of the transaction, the insider now directly owns 322,734 shares of the company’s stock, valued at approximately $11,295,690. The disclosure for this sale can be found here. In the last 90 days, insiders sold 502,663 shares of company stock valued at $16,975,295. Company insiders own 2.55% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in Cadence Design Systems by 26.4% in the fourth quarter. Teachers Advisors LLC now owns 347,424 shares of the software maker’s stock worth $8,762,000 after buying an additional 72,492 shares during the period. Pensionfund Sabic acquired a new position in Cadence Design Systems during the first quarter worth $1,714,000. Pensionfund DSM Netherlands acquired a new position in Cadence Design Systems during the first quarter worth $3,410,000. Gulf International Bank UK Ltd raised its position in Cadence Design Systems by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 89,650 shares of the software maker’s stock worth $2,815,000 after buying an additional 450 shares during the period. Finally, Bank of Montreal Can raised its position in Cadence Design Systems by 99.6% in the first quarter. Bank of Montreal Can now owns 2,377,529 shares of the software maker’s stock worth $74,656,000 after buying an additional 1,186,232 shares during the period. 86.35% of the stock is owned by hedge funds and other institutional investors.

About Cadence Design Systems

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).

Earnings History and Estimates for Cadence Design Systems (NASDAQ:CDNS)

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