LS Investment Advisors LLC Raises Stake in Cadence Design Systems, Inc. (CDNS)

Paterniano Del Favero
Agosto 10, 2017

Advantus Capital Management Inc now owns 35,693 shares of the software maker's stock worth $1,121,000 after buying an additional 112 shares during the last quarter.

Shares of Cadence Design Systems, Inc. Victory Capital Management Inc. now owns 39,348 shares of the software maker's stock worth $1,236,000 after buying an additional 105 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Cadence Design Systems by 0.3% in the first quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth about $205,000. Griffin Securities also issued estimates for Cadence Design Systems' Q4 2017 earnings at $0.27 EPS, FY2017 earnings at $1.01 EPS, Q1 2018 earnings at $0.18 EPS and Q2 2018 earnings at $0.25 EPS. (CDNS) opened at 36.56 on Thursday. It is now trading at $36.51 which is just a bit higher than the 50 day moving average of $34.84 and which is marginally higher than the 200 day moving average of $32.28. The company has a market cap of $10.27 billion, a P/E ratio of 42.62 and a beta of 0.94. On the other side, analysts now consider Cadence Design Systems, Inc. a neutral, and a technical analysis of the stock is setting somewhat neutral outlook for now. On Thursday, March 9 DEVGAN ANIRUDH sold $623,836 worth of Cadence Design Systems Inc (NASDAQ:CDNS) or 20,000 shares. Next quarter's EPS is estimated at $0.39 and the next full year EPS is anticipated to be $1.51. The firm had revenue of $479 million during the quarter, compared to analysts' expectations of $476.21 million.

Cadence Design Systems, Inc., launched on April 8, 1987, provides solutions that enable its customers to design electronic products. The firm's revenue was up 5.7% compared to the same quarter a year ago. During the same quarter previous year, the company posted $0.29 EPS. On average, analysts predict that Cadence Design Systems, Inc. will post $1.38 earnings per share for the current year. Texas Permanent School Fund increased its position in Cadence Design Systems by 1.1% in the second quarter. "(NASDAQ:CDNS) to Hold" was published by Markets Daily and is the sole property of of Markets Daily. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of USA & worldwide copyright and trademark legislation. The correct version of this article can be viewed at Skechers Usa Inc. had 47 analyst reports since July 22, 2015 according to SRatingsIntel.

On October 10 the stock rating was upgraded from "Neutral" to "Buy" in an announcement from DA Davidson. Bank of America maintained Cadence Design Systems Inc (NASDAQ:CDNS) rating on Tuesday, July 25. BidaskClub cut shares of Cadence Design Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated a "buy" rating and issued a $33.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 18th. It looks like analysts are feeling bearish about the stock with overall sell-side analysts calling it a Buy. The stock has a consensus rating of "Hold" and an average target price of $33.67. Also, insider Thomas P. Beckley sold 56,250 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, July 19th. Following the transaction, the insider now owns 247,495 shares of the company's stock, valued at approximately $8,073,286.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. ZAMAN ANEEL had sold 29,406 shares worth $959,087 on Friday, May 19. There are brokerage firms with lower targets than the average, including one setting a price target of $32. Following the completion of the transaction, the vice president now directly owns 137,332 shares of the company's stock, valued at approximately $4,544,315.88. The disclosure for this sale can be found here. Insiders have sold a total of 434,656 shares of company stock valued at $14,786,334 in the last ninety days. Moreover, Daruma Capital Management Llc has 3.08% invested in the company for 2.15 million shares. Cadence Design Systems now has $10.31 billion valuation. 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).

(CDNS) stock price comparison to its moving averages, shares of company spotted the move of 5.08% isolated from the 50-day moving average and derived 2.92% away from 20-day moving average in the most recent session.

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