Cadence Design Systems Inc (NASDAQ:CDNS) Stake Lowered by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,682 shares of the software maker’s stock after selling 7,498 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cadence Design Systems were worth $5,251,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in shares of Cadence Design Systems by 19.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,458 shares of the software maker’s stock valued at $791,000 after acquiring an additional 2,000 shares during the last quarter. World Asset Management Inc raised its stake in Cadence Design Systems by 5.1% in the first quarter. World Asset Management Inc now owns 19,082 shares of the software maker’s stock worth $1,212,000 after buying an additional 920 shares in the last quarter. Bank of Montreal Can raised its stake in Cadence Design Systems by 32.2% in the first quarter. Bank of Montreal Can now owns 2,345,436 shares of the software maker’s stock worth $148,958,000 after buying an additional 571,924 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Cadence Design Systems by 263.4% in the first quarter. Assenagon Asset Management S.A. now owns 370,413 shares of the software maker’s stock worth $23,525,000 after buying an additional 268,473 shares in the last quarter. Finally, First Quadrant L P CA raised its stake in Cadence Design Systems by 13.0% in the first quarter. First Quadrant L P CA now owns 33,128 shares of the software maker’s stock worth $2,104,000 after buying an additional 3,821 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

In other news, CFO John M. Wall sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $67.25, for a total transaction of $201,750.00. Following the sale, the chief financial officer now owns 209,576 shares in the company, valued at $14,093,986. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Surendra Babu Mandava sold 3,306 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $58.46, for a total transaction of $193,268.76. Following the sale, the vice president now owns 232,518 shares in the company, valued at approximately $13,593,002.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,019 shares of company stock worth $16,513,628. Corporate insiders own 2.34% of the company’s stock.

CDNS traded down $0.63 during midday trading on Wednesday, reaching $64.72. The company’s stock had a trading volume of 2,125,526 shares, compared to its average volume of 2,024,464. The stock has a market cap of $18.37 billion, a PE ratio of 52.62, a price-to-earnings-growth ratio of 3.91 and a beta of 1.13. 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 1 year low of $39.08 and a 1 year high of $70.49.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 22nd. The software maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.08. The business had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $569.34 million. Cadence Design Systems had a net margin of 17.91% and a return on equity of 30.86%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities research analysts predict that Cadence Design Systems Inc will post 1.46 EPS for the current year.

A number of equities analysts recently issued reports on CDNS shares. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, February 1st. BidaskClub raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 5th. DA Davidson increased their price target on shares of Cadence Design Systems to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Needham & Company LLC increased their price target on shares of Cadence Design Systems to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Finally, ValuEngine raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 23rd. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $59.44.

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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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