November 30, 2016 - By Adrian Mccoy · 0 Comments
Cadence Design Systems Inc (NASDAQ:CDNS) institutional sentiment decreased to 0.79 in 2016 Q2. Its down -0.61, from 1.4 in 2016Q1. The ratio worsened, as 178 investment professionals increased and opened new holdings, while 127 sold and decreased stock positions in Cadence Design Systems Inc. The investment professionals in our partner’s database now possess: 245.54 million shares, down from 261.03 million shares in 2016Q1. Also, the number of investment professionals holding Cadence Design Systems Inc in their top 10 holdings decreased from 8 to 5 for a decrease of 3. Sold All: 26 Reduced: 101 Increased: 125 New Position: 53.
Cadence Design Systems, Inc. develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The company has a market cap of $7.58 billion. The Company’s SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP): verification IP (VIP) and design IP. It has a 32.22 P/E ratio. The Firm provides maintenance for its software, emulation hardware and IP product offerings.
About 324,979 shares traded hands. Cadence Design Systems Inc (NASDAQ:CDNS) has risen 12.05% since April 27, 2016 and is uptrending. It has outperformed by 6.83% the S&P500.
Analysts await Cadence Design Systems Inc (NASDAQ:CDNS) to report earnings on February, 1. They expect $0.20 EPS, down 20.00% or $0.05 from last year’s $0.25 per share. CDNS’s profit will be $57.45M for 32.99 P/E if the $0.20 EPS becomes a reality. After $0.23 actual EPS reported by Cadence Design Systems Inc for the previous quarter, Wall Street now forecasts -13.04% negative EPS growth.
According to Zacks Investment Research, “Cadence Design Systems, Inc. provides comprehensive software and other technology and offers design and methodology services for the product development requirements of the world’s leading electronics companies. Cadence licenses its leading-edge electronic design automation software and hardware technology and provides a range of services to companies throughout the world to help optimize their product development processes.”
40 North Management Llc holds 37.74% of its portfolio in Cadence Design Systems Inc for 11.43 million shares. Shearlink Capital Llc owns 593,074 shares or 6.27% of their US portfolio. Moreover, Daruma Capital Management Llc has 3.56% invested in the company for 2.24 million shares. The New York-based Alkeon Capital Management Llc has invested 3.02% in the stock. Copper Rock Capital Partners Llc, a Massachusetts-based fund reported 1.50 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 15 selling transactions for $20.31 million net activity.
Ratings analysis reveals 50% of Cadence Design Systems Inc’s analysts are positive. Out of 8 Wall Street analysts rating Cadence Design Systems Inc, 4 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $21 while the high is $29. The stock’s average target of $25.13 is -4.77% below today’s ($26.39) share price. CDNS was included in 15 notes of analysts from July 29, 2015. DA Davidson downgraded the shares of CDNS in a report on Wednesday, April 6 to “Neutral” rating. The rating was maintained by Northland Capital with “Outperform” on Tuesday, October 27. The firm earned “Hold” rating on Tuesday, June 14 by Needham. Benchmark initiated the stock with “Hold” rating in Thursday, October 8 report. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) earned “Neutral” rating by Credit Suisse on Wednesday, October 19. The firm earned “Buy” rating on Thursday, February 4 by DA Davidson. The stock has “Buy” rating given by DA Davidson on Monday, October 10. The firm earned “Outperform” rating on Monday, June 6 by RBC Capital Markets. The firm has “Outperform” rating given on Thursday, November 19 by Northland Capital. Needham maintained Cadence Design Systems Inc (NASDAQ:CDNS) on Tuesday, October 27 with “Buy” rating.
Cadence Design Systems, Inc. (Cadence), incorporated on April 8, 1987, develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs), and electronic devices. The Company’s SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP): verification IP (VIP) and design IP. The Firm provides maintenance for its software, emulation hardware and IP product offerings. It also provides engineering services related to methodology, education, hosted design solutions and design services for ICs and development of custom IP. The Firm offers services and products to electronics systems and semiconductor companies, Internet service providers and other technology companies that deliver a range of electronics products in market divisions, such as mobile and consumer devices, communications, cloud and data center infrastructure, personal computers, automotive systems, medical systems and other devices.
More news for Cadence Design Systems Inc (NASDAQ:CDNS) were recently published by: Prnewswire.com, which released: “Cadence Releases XJTAG DFT Assistant for OrCAD Capture” on November 08, 2016. Prnewswire.com‘s article titled: “Cadence Modus Test Solution Enables Support for Safety-Critical SoC Designs …” and published on November 14, 2016 is yet another important article.
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By Adrian Mccoy