Mutual of America Capital Management LLC Has $1.38 Million Stake in Cadence Design Systems Inc (CDNS)

Mutual of America Capital Management LLC lessened its stake in Cadence Design Systems Inc (NASDAQ:CDNS) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,080 shares of the software maker’s stock after selling 1,309 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cadence Design Systems were worth $1,383,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CDNS. PNC Financial Services Group Inc. lifted its holdings in shares of Cadence Design Systems by 6.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock valued at $338,000 after buying an additional 612 shares during the period. Dimensional Fund Advisors LP raised its holdings in Cadence Design Systems by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,944 shares of the software maker’s stock worth $34,962,000 after purchasing an additional 10,637 shares during the period. Nomura Holdings Inc. acquired a new position in Cadence Design Systems in the 2nd quarter worth about $264,000. Achmea Investment Management B.V. raised its holdings in Cadence Design Systems by 81.3% in the 2nd quarter. Achmea Investment Management B.V. now owns 18,797 shares of the software maker’s stock worth $629,000 after purchasing an additional 8,429 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Cadence Design Systems by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 231,361 shares of the software maker’s stock worth $9,130,000 after purchasing an additional 27,174 shares during the period. 84.91% of the stock is owned by institutional investors and hedge funds.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total transaction of $1,117,250.00. Following the completion of the transaction, the chief executive officer now owns 458,333 shares of the company’s stock, valued at $20,482,901.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John M. Wall sold 750 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the transaction, the chief financial officer now directly owns 129,673 shares of the company’s stock, valued at approximately $4,918,496.89. The disclosure for this sale can be found here. Insiders have sold 256,776 shares of company stock valued at $11,313,793 in the last three months. Insiders own 2.55% of the company’s stock.

A number of equities analysts recently weighed in on CDNS shares. BidaskClub cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Zacks Investment Research cut Cadence Design Systems from a “hold” rating to a “strong sell” rating in a report on Monday, February 5th. KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.20.

Cadence Design Systems Inc (NASDAQ:CDNS) opened at $39.07 on Friday. The firm has a market capitalization of $10,701.44, a PE ratio of 52.80, a P/E/G ratio of 3.70 and a beta of 0.97. Cadence Design Systems Inc has a fifty-two week low of $29.69 and a fifty-two week high of $46.00. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The business had revenue of $501.70 million during the quarter, compared to analysts’ expectations of $496.20 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. analysts forecast that Cadence Design Systems Inc will post 0.85 earnings per share for the current fiscal year.

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Cadence Design Systems Profile

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).

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

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