Dimensional Fund Advisors LP Has $138.67 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Dimensional Fund Advisors LP decreased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,403 shares of the software maker’s stock after selling 22,691 shares during the period. Dimensional Fund Advisors LP owned 0.22% of Cadence Design Systems worth $138,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cibc World Market Inc. grew its stake in Cadence Design Systems by 2.7% during the first quarter. Cibc World Market Inc. now owns 21,529 shares of the software maker’s stock worth $3,541,000 after purchasing an additional 571 shares during the period. Prudential PLC acquired a new stake in Cadence Design Systems during the first quarter worth approximately $1,160,000. Loomis Sayles & Co. L P grew its stake in Cadence Design Systems by 1,030.1% during the first quarter. Loomis Sayles & Co. L P now owns 2,780 shares of the software maker’s stock worth $457,000 after purchasing an additional 2,534 shares during the period. Zions Bancorporation N.A. grew its stake in Cadence Design Systems by 108.3% during the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock worth $37,000 after purchasing an additional 117 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Cadence Design Systems by 26.8% during the first quarter. NewEdge Advisors LLC now owns 16,231 shares of the software maker’s stock worth $2,669,000 after purchasing an additional 3,433 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $268.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 24th. Rosenblatt Securities increased their price target on Cadence Design Systems from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. StockNews.com initiated coverage on Cadence Design Systems in a report on Thursday, October 5th. They issued a “buy” rating on the stock. KeyCorp increased their price target on Cadence Design Systems from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, September 14th. Finally, Morgan Stanley initiated coverage on Cadence Design Systems in a report on Friday, November 10th. They issued an “equal weight” rating and a $260.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.50.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 1,250 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $255.00, for a total value of $318,750.00. Following the completion of the sale, the chief financial officer now directly owns 85,375 shares of the company’s stock, valued at $21,770,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO John M. Wall sold 1,250 shares of Cadence Design Systems stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $255.00, for a total value of $318,750.00. Following the completion of the transaction, the chief financial officer now directly owns 85,375 shares in the company, valued at $21,770,625. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $240.80, for a total value of $240,800.00. Following the completion of the transaction, the vice president now owns 88,316 shares of the company’s stock, valued at $21,266,492.80. The disclosure for this sale can be found here. Insiders sold 21,279 shares of company stock valued at $5,049,575 over the last ninety days. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $270.25 on Tuesday. The business’s fifty day simple moving average is $244.24 and its 200 day simple moving average is $234.26. The firm has a market capitalization of $73.52 billion, a P/E ratio of 76.99, a price-to-earnings-growth ratio of 3.31 and a beta of 1.04. Cadence Design Systems, Inc. has a 12 month low of $154.88 and a 12 month high of $274.32. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.21.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 23rd. The software maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a return on equity of 34.64% and a net margin of 24.42%. Cadence Design Systems’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 4.13 EPS for the current year.

Cadence Design Systems 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 logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.