Nomura Holdings Inc. Sells 7,300 Shares of Cadence Design Systems Inc (NASDAQ:CDNS)

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Nomura Holdings Inc. lowered its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 2.2% in the second quarter, Holdings Channel reports. The firm owned 324,700 shares of the software maker’s stock after selling 7,300 shares during the quarter. Nomura Holdings Inc.’s holdings in Cadence Design Systems were worth $23,742,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CDNS. Advisor Partners LLC lifted its stake in Cadence Design Systems by 4.0% in the second quarter. Advisor Partners LLC now owns 3,492 shares of the software maker’s stock valued at $247,000 after acquiring an additional 133 shares during the last quarter. Greenleaf Trust lifted its stake in Cadence Design Systems by 1.3% in the second quarter. Greenleaf Trust now owns 11,208 shares of the software maker’s stock valued at $794,000 after acquiring an additional 144 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in Cadence Design Systems by 2.2% in the first quarter. Wetherby Asset Management Inc. now owns 7,212 shares of the software maker’s stock valued at $458,000 after acquiring an additional 155 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in Cadence Design Systems by 29.7% in the second quarter. Commonwealth Bank of Australia now owns 829 shares of the software maker’s stock valued at $57,000 after acquiring an additional 190 shares during the last quarter. Finally, Altshuler Shaham Ltd lifted its stake in Cadence Design Systems by 109.2% in the second quarter. Altshuler Shaham Ltd now owns 385 shares of the software maker’s stock valued at $27,000 after acquiring an additional 201 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems stock traded down $0.42 during midday trading on Friday, hitting $66.50. The company’s stock had a trading volume of 49,233 shares, compared to its average volume of 1,833,868. Cadence Design Systems Inc has a 1-year low of $39.08 and a 1-year high of $77.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 1.52. The company has a 50-day moving average price of $68.75 and a two-hundred day moving average price of $67.59. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 54.10, a PEG ratio of 4.54 and a beta of 1.18.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Cadence Design Systems had a net margin of 18.83% and a return on equity of 31.86%. The business had revenue of $580.42 million during the quarter, compared to analysts’ expectations of $579.41 million. During the same quarter in the previous year, the company earned $0.45 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Cadence Design Systems Inc will post 1.48 EPS for the current year.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $75.12, for a total value of $3,004,800.00. Following the transaction, the chief executive officer now directly owns 899,852 shares of the company’s stock, valued at approximately $67,596,882.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aneel Zaman sold 523 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $72.78, for a total transaction of $38,063.94. Following the completion of the transaction, the insider now directly owns 246,114 shares in the company, valued at $17,912,176.92. The disclosure for this sale can be found here. Insiders sold a total of 158,936 shares of company stock valued at $11,022,704 in the last quarter. Corporate insiders own 2.34% of the company’s stock.

CDNS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Cadence Design Systems from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. ValuEngine cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. DA Davidson increased their price target on shares of Cadence Design Systems to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Needham & Company LLC increased their price target on shares of Cadence Design Systems to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $67.25.

Cadence Design Systems Company Profile

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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