JPMorgan Chase & Co. Has $39.15 Million Holdings in Cadence Design Systems, Inc. (CDNS)

JPMorgan Chase & Co. decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 36.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,003,877 shares of the software maker’s stock after selling 567,997 shares during the quarter. JPMorgan Chase & Co. owned 0.36% of Cadence Design Systems worth $39,152,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Creative Planning raised its stake in Cadence Design Systems by 242.2% in the 2nd quarter. Creative Planning now owns 3,282 shares of the software maker’s stock worth $110,000 after purchasing an additional 2,323 shares in the last quarter. Advisor Group Inc. raised its stake in Cadence Design Systems by 151.4% in the 3rd quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after purchasing an additional 2,505 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Cadence Design Systems in the 3rd quarter worth about $170,000. Commonwealth Bank of Australia raised its stake in Cadence Design Systems by 36.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock worth $161,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Parkwood LLC acquired a new stake in Cadence Design Systems in the 3rd quarter worth about $201,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

Several analysts have weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, November 1st. DA Davidson boosted their target price on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC restated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cadence Design Systems presently has a consensus rating of “Buy” and an average price target of $40.60.

In related news, CFO John M. Wall sold 750 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $40.68, for a total transaction of $30,510.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lip Bu Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $41.97, for a total transaction of $4,197,000.00. Following the transaction, the chief executive officer now owns 445,833 shares of the company’s stock, valued at $18,711,611.01. The disclosure for this sale can be found here. Insiders sold a total of 230,224 shares of company stock valued at $9,879,242 over the last 90 days. Corporate insiders own 2.55% of the company’s stock.

Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $43.56 on Monday. The company has a market cap of $12,299.60, a P/E ratio of 46.84, a PEG ratio of 3.44 and a beta of 0.93. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $45.64.

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

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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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