Schwab Charles Investment Management Inc. Has $57.38 Million Position in Cadence Design Systems, Inc. (CDNS)

Schwab Charles Investment Management Inc. boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 51.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,453,823 shares of the software maker’s stock after purchasing an additional 495,633 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.51% of Cadence Design Systems worth $57,383,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CDNS. Creative Planning boosted its position in Cadence Design Systems by 242.2% during the 2nd quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after purchasing an additional 2,323 shares during the period. Commonwealth Bank of Australia boosted its position in Cadence Design Systems by 36.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock worth $161,000 after acquiring an additional 1,300 shares during the period. Advisor Group Inc. boosted its position in Cadence Design Systems by 151.4% during the 3rd quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after acquiring an additional 2,505 shares during the period. Dupont Capital Management Corp acquired a new position in Cadence Design Systems during the 3rd quarter worth $170,000. Finally, Parkwood LLC acquired a new position in Cadence Design Systems during the 3rd quarter worth $201,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $42.42 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $45.64. The stock has a market capitalization of $12,344.78, a price-to-earnings ratio of 47.01, a price-to-earnings-growth ratio of 3.45 and a beta of 0.93.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $485.40 million during the quarter, compared to analyst estimates of $481.10 million. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. sell-side analysts expect that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current fiscal year.

CDNS has been the subject of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 price target on shares of Cadence Design Systems in a research report on Friday, October 27th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, November 1st. DA Davidson boosted their price target on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.60.

In other news, CFO John M. Wall sold 750 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $40.68, for a total value of $30,510.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger S. Siboni sold 18,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.14, for a total value of $776,520.00. Following the completion of the sale, the director now owns 52,194 shares of the company’s stock, valued at approximately $2,251,649.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,224 shares of company stock valued at $8,382,992. Insiders own 2.55% of the company’s stock.

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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).

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

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