HL Financial Services LLC Buys 1,140 Shares of Cadence Design Systems, Inc. (CDNS)

HL Financial Services LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 111,617 shares of the software maker’s stock after buying an additional 1,140 shares during the period. HL Financial Services LLC’s holdings in Cadence Design Systems were worth $3,738,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDNS. BlackRock Inc. boosted its position in shares of Cadence Design Systems by 6,398.5% in the first quarter. BlackRock Inc. now owns 26,541,567 shares of the software maker’s stock valued at $833,406,000 after buying an additional 26,133,138 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cadence Design Systems during the first quarter valued at $81,715,000. Goldman Sachs Group Inc. boosted its position in shares of Cadence Design Systems by 48.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,771,026 shares of the software maker’s stock valued at $149,811,000 after buying an additional 1,549,905 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Cadence Design Systems during the first quarter valued at $38,468,000. Finally, Bank of Montreal Can boosted its position in shares of 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 valued at $74,656,000 after buying an additional 1,186,232 shares during the last quarter. 86.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) traded up 0.30% during mid-day trading on Friday, reaching $36.95. 967,720 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $35.62 and a 200 day moving average price of $33.05. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 42.97 and a beta of 0.94. Cadence Design Systems, Inc. has a 52 week low of $24.15 and a 52 week high of $37.70.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $479 million for the quarter, compared to analyst estimates of $476.21 million. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. Equities research analysts predict that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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CDNS has been the topic of several recent research reports. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, April 27th. Royal Bank Of Canada upped their target price on shares of Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, July 25th. DA Davidson cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Bank of America Corporation upped their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $33.67.

In related news, VP James J. Cowie sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $33.09, for a total transaction of $1,455,960.00. Following the transaction, the vice president now directly owns 137,332 shares of the company’s stock, valued at approximately $4,544,315.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $37.18, for a total value of $3,718,000.00. Following the transaction, the chief executive officer now directly owns 583,332 shares in the company, valued at $21,688,283.76. The disclosure for this sale can be found here. Insiders have sold a total of 505,250 shares of company stock worth $17,545,110 over the last three months. 2.55% of the stock is currently owned by corporate insiders.

Cadence Design Systems Company Profile

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).

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

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