Cadence Design Systems Inc (CDNS) Stake Increased by AlphaMark Advisors LLC

AlphaMark Advisors LLC boosted its position in Cadence Design Systems Inc (NASDAQ:CDNS) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 109,623 shares of the software maker’s stock after buying an additional 1,399 shares during the period. Cadence Design Systems accounts for 1.6% of AlphaMark Advisors LLC’s investment portfolio, making the stock its 20th largest position. AlphaMark Advisors LLC’s holdings in Cadence Design Systems were worth $3,442,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock worth $200,000 after buying an additional 31 shares during the last quarter. Cadence Capital Management LLC raised its stake in shares of Cadence Design Systems by 0.5% in the fourth quarter. Cadence Capital Management LLC now owns 70,934 shares of the software maker’s stock worth $1,789,000 after buying an additional 354 shares during the period. Sumitomo Life Insurance Co. raised its stake in shares of Cadence Design Systems by 0.7% in the first quarter. Sumitomo Life Insurance Co. now owns 53,389 shares of the software maker’s stock worth $1,676,000 after buying an additional 392 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Cadence Design Systems by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 89,650 shares of the software maker’s stock worth $2,815,000 after buying an additional 450 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cadence Design Systems by 0.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,199 shares of the software maker’s stock worth $2,424,000 after buying an additional 518 shares during the period. Institutional investors own 83.26% of the company’s stock.

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

Shares of Cadence Design Systems Inc (NASDAQ:CDNS) traded up 1.42% during midday trading on Friday, reaching $32.78. 2,159,573 shares of the company’s stock were exchanged. The company’s 50-day moving average is $32.19 and its 200-day moving average is $28.84. The stock has a market cap of $9.17 billion, a P/E ratio of 42.13 and a beta of 1.00. Cadence Design Systems Inc has a one year low of $22.99 and a one year high of $33.61.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 24th. The software maker reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $477 million during the quarter, compared to the consensus estimate of $474.23 million. Cadence Design Systems had a return on equity of 23.03% and a net margin of 11.18%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. Equities analysts expect that Cadence Design Systems Inc will post $1.38 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Cadence Design Systems Inc (CDNS) Stake Increased by AlphaMark Advisors LLC” was first posted by Mideast Time and is the property of of Mideast Time. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.mideasttime.com/cadence-design-systems-inc-cdns-stake-increased-by-alphamark-advisors-llc/1708519.html.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, April 28th. DA Davidson lowered shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $33.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.83.

In other news, Director Roger S. Siboni sold 20,507 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $32.32, for a total transaction of $662,786.24. Following the completion of the transaction, the director now directly owns 52,701 shares of the company’s stock, valued at approximately $1,703,296.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $31.19, for a total value of $623,800.00. Following the transaction, the insider now directly owns 313,381 shares of the company’s stock, valued at $9,774,353.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,007 shares of company stock valued at $5,938,761. Corporate insiders own 2.70% of the company’s stock.

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).

5 Day Chart for NASDAQ:CDNS

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems Inc (NASDAQ:CDNS).

Receive News & Ratings for Cadence Design Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.