Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 18,319 Shares of Cadence Design Systems Inc (CDNS)

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Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 24.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 93,099 shares of the software maker’s stock after buying an additional 18,319 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cadence Design Systems were worth $5,913,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Martingale Asset Management L P increased its position in shares of Cadence Design Systems by 59.5% during the third quarter. Martingale Asset Management L P now owns 883,830 shares of the software maker’s stock worth $40,056,000 after purchasing an additional 329,802 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cadence Design Systems by 34.4% during the third quarter. JPMorgan Chase & Co. now owns 393,014 shares of the software maker’s stock worth $17,811,000 after purchasing an additional 100,567 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Cadence Design Systems during the third quarter worth about $222,000. Teachers Advisors LLC increased its position in shares of Cadence Design Systems by 13.0% during the third quarter. Teachers Advisors LLC now owns 638,816 shares of the software maker’s stock worth $28,951,000 after purchasing an additional 73,425 shares in the last quarter. Finally, Standard Life Aberdeen plc increased its position in shares of Cadence Design Systems by 18.7% during the third quarter. Standard Life Aberdeen plc now owns 79,146 shares of the software maker’s stock worth $3,587,000 after purchasing an additional 12,458 shares in the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.

Several equities analysts recently issued reports on CDNS shares. Needham & Company LLC boosted their price target on Cadence Design Systems from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Zacks Investment Research cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. BidaskClub upgraded Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 15th. DA Davidson boosted their target price on Cadence Design Systems to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, ValuEngine upgraded Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 23rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.44.

NASDAQ CDNS opened at $69.45 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.39 and a current ratio of 1.45. Cadence Design Systems Inc has a 12-month low of $39.08 and a 12-month high of $69.99. The company has a market cap of $19.50 billion, a price-to-earnings ratio of 56.46, a price-to-earnings-growth ratio of 3.92 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 22nd. The software maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.08. The business had revenue of $577.00 million for the quarter, compared to analyst estimates of $569.34 million. Cadence Design Systems had a return on equity of 30.86% and a net margin of 17.91%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, equities research analysts forecast that Cadence Design Systems Inc will post 1.47 EPS for the current year.

In other news, Director John B. Shoven sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the sale, the director now owns 152,120 shares of the company’s stock, valued at approximately $7,606,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aneel Zaman sold 66,808 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $61.77, for a total value of $4,126,730.16. Following the sale, the insider now directly owns 285,961 shares in the company, valued at approximately $17,663,810.97. The disclosure for this sale can be found here. Insiders have sold a total of 272,019 shares of company stock worth $16,264,828 in the last three months. Corporate insiders own 2.34% of the company’s stock.

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About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

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

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