AMP Capital Investors Ltd Has $7.03 Million Stake in Cadence Design Systems Inc (CDNS)

AMP Capital Investors Ltd lessened its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 30.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,266 shares of the software maker’s stock after selling 69,791 shares during the period. AMP Capital Investors Ltd owned about 0.06% of Cadence Design Systems worth $7,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Psagot Investment House Ltd. grew its position in shares of Cadence Design Systems by 52.4% in the 3rd quarter. Psagot Investment House Ltd. now owns 3,262 shares of the software maker’s stock valued at $148,000 after acquiring an additional 1,121 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Cadence Design Systems by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 75,528 shares of the software maker’s stock valued at $3,423,000 after acquiring an additional 1,296 shares during the period. Chesapeake Wealth Management grew its position in shares of Cadence Design Systems by 19.8% in the 2nd quarter. Chesapeake Wealth Management now owns 8,317 shares of the software maker’s stock valued at $360,000 after acquiring an additional 1,375 shares during the period. Granahan Investment Management Inc. MA grew its position in shares of Cadence Design Systems by 4.6% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 32,614 shares of the software maker’s stock valued at $1,413,000 after acquiring an additional 1,434 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cadence Design Systems by 2.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,811 shares of the software maker’s stock valued at $2,677,000 after acquiring an additional 1,569 shares during the period. 87.65% of the stock is owned by institutional investors.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 5,469 shares of Cadence Design Systems stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $46.10, for a total value of $252,120.90. Following the completion of the sale, the chief executive officer now owns 424,566 shares in the company, valued at approximately $19,572,492.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aneel Zaman sold 32,995 shares of Cadence Design Systems stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 213,471 shares of company stock valued at $9,763,272 in the last quarter. Corporate insiders own 2.55% of the company’s stock.

Shares of CDNS stock opened at $42.67 on Friday. The stock has a market cap of $12.62 billion, a P/E ratio of 40.25, a P/E/G ratio of 3.20 and a beta of 1.13. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.27. Cadence Design Systems Inc has a 52 week low of $35.49 and a 52 week high of $47.40.

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

Several brokerages recently commented on CDNS. BidaskClub raised shares of Cadence Design Systems from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Berenberg Bank began coverage on shares of Cadence Design Systems in a report on Tuesday, November 20th. They set a “hold” rating and a $50.00 target price for the company. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a report on Thursday, October 25th. Benchmark raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. raised shares of Cadence Design Systems from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $49.00 to $51.00 in a report on Tuesday, October 23rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $50.75.

TRADEMARK VIOLATION WARNING: “AMP Capital Investors Ltd Has $7.03 Million Stake in Cadence Design Systems Inc (CDNS)” was reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2018/12/08/amp-capital-investors-ltd-has-7-03-million-stake-in-cadence-design-systems-inc-cdns.html.

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.

Recommended Story: What are the Benefits of Index Funds?

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.

Leave a Reply