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CADENCE DESIGN SYSTEMS (CDNS) News
California State Teachers Retirement System Decreases Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)
California State Teachers Retirement System decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 501,663 shares of the software maker’s stock after selling 92,300 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Cadence Design Systems worth $16,800,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CDNS. JPMorgan Chase & Co. lifted its position in shares of Cadence Design Systems by 14.2% in the 1st quarter. JPMorgan Chase & Co. now owns 439,728 shares of the software maker’s stock worth $13,806,000 after acquiring an additional 54,809 shares during the period. Victory Capital Management Inc. lifted its position in shares of Cadence Design Systems by 0.3% in the 1st quarter. Victory Capital Management Inc. now owns 39,348 shares of the software maker’s stock worth $1,236,000 after acquiring an additional 105 shares during the period. Teachers Advisors LLC lifted its position in shares of Cadence Design Systems by 8.2% in the 1st quarter. Teachers Advisors LLC now owns 376,033 shares of the software maker’s stock worth $11,807,000 after acquiring an additional 28,609 shares during the period. Legal & General Group Plc lifted its position in shares of Cadence Design Systems by 39.8% in the 1st quarter. Legal & General Group Plc now owns 453,458 shares of the software maker’s stock worth $14,236,000 after acquiring an additional 129,162 shares during the period. Finally, Ngam Advisors L.P. lifted its position in shares of Cadence Design Systems by 5.5% in the 1st quarter. Ngam Advisors L.P. now owns 22,847 shares of the software maker’s stock worth $717,000 after acquiring an additional 1,186 shares during the period. Hedge funds and other institutional investors own 84.44% of the company’s stock.
In other Cadence Design Systems news, CFO John M. Wall sold 750 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $40.68, for a total transaction of $30,510.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission. Also, VP James J. Cowie sold 5,036 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $37.21, for a total transaction of $187,389.56. Following the completion of the sale, the vice president now owns 82,082 shares of the company’s stock, valued at approximately $3,054,271.22. The disclosure for this sale can be found here. Insiders have sold 260,786 shares of company stock valued at $10,186,400 over the last three months. 2.55% of the stock is owned by corporate insiders.
Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up 0.84% on Friday, reaching $43.08. The company’s stock had a trading volume of 2,119,251 shares. The stock’s 50 day moving average price is $39.89 and its 200 day moving average price is $36.02. Cadence Design Systems, Inc. has a 12 month low of $24.15 and a 12 month high of $43.23. The company has a market cap of $12.07 billion, a P/E ratio of 50.09 and a beta of 0.93.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 30.43%. The business had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Cadence Design System's quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current year.Get Started today! - Risk Free