November 23, 2016 - By Peter Erickson
An insider of the company Cadence Design Systems Inc, James Cowie also its Sr. VP – General Counsel, disclosed his trade activities with the DC-based SEC on 23-11-2016. As exposed in the document, James had sold 97,500 shares of the company. The total trade was worth $2,600,013 U.S Dollars. At the time of the deal the price of a share was $26.7. This transaction was pretty sizable one, so clearly it won’t go undiscovered. At the moment, he possess a total of 111,665 shares or 0.04% of Cadence Design Systems Inc’s market cap (total dollar market value of all company’s outstanding shares).
Out of 8 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $29 is the highest target while $21 is the lowest. The $25.13 average target is -5.13% below today’s ($26.49) stock price. Cadence Design Systems Inc has been the topic of 15 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Tuesday, October 27, the company rating was maintained by Northland Capital. The rating was downgraded by DA Davidson on Wednesday, April 6 to “Neutral”. The stock has “Buy” rating given by DA Davidson on Thursday, February 4. RBC Capital Markets maintained Cadence Design Systems Inc (NASDAQ:CDNS) rating on Tuesday, October 27. RBC Capital Markets has “Outperform” rating and $25 price target. The firm earned “Neutral” rating on Wednesday, October 19 by Credit Suisse. RBC Capital Markets initiated the stock with “Outperform” rating in Monday, June 6 report. Needham downgraded Cadence Design Systems Inc (NASDAQ:CDNS) on Tuesday, June 14 to “Hold” rating. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) earned “Buy” rating by DA Davidson on Monday, October 10. The rating was initiated by Benchmark on Thursday, October 8 with “Hold”. The rating was maintained by Northland Capital on Thursday, November 19 with “Outperform”.
Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.61, from 1.4 in 2016Q1. The ratio worsened, as 26 funds sold all Cadence Design Systems Inc shares owned while 101 reduced positions. 53 funds bought stakes while 125 increased positions. They now own 245.54 million shares or 5.93% less from 261.03 million shares in 2016Q1.
Shinko Asset Company owns 14,053 shares or 0% of their US portfolio. Daruma Capital Mngmt Ltd Llc reported 2.24 million shares or 3.56% of all its holdings. Bluecrest Cap Mngmt has 10,177 shares for 0.01% of their US portfolio. Barclays Public Ltd Com, a United Kingdom-based fund reported 179,904 shares. Bb&T Corporation has invested 0.04% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Amp Investors holds 0.01% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS) for 86,745 shares. Fuller And Thaler Asset Management, a California-based fund reported 2,160 shares. Diam Limited last reported 0.08% of its portfolio in the stock. Robecosam Ag, a Switzerland-based fund reported 2,600 shares. Independent Consultants Incorporated reported 2,130 shares or 0.02% of all its holdings. Highbridge Capital Management Limited Liability accumulated 0.01% or 23,140 shares. Cortina Asset Management Llc last reported 127,893 shares in the company. Yorktown Mngmt And Company Inc accumulated 14,300 shares or 0.08% of the stock. Wall Street Associate reported 14,423 shares or 0.14% of all its holdings. Ladenburg Thalmann Svcs holds 0% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS) for 4,608 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 17 sales for $22.05 million net activity. 22,933 shares with value of $553,999 were sold by RIBAR GEOFFREY G on Monday, August 1. The insider BECKLEY THOMAS P sold 13,548 shares worth $338,700. 3,121 shares were sold by Cowie James J, worth $77,151 on Friday, August 12. $639,790 worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by TAN LIP BU. 19,375 Cadence Design Systems Inc (NASDAQ:CDNS) shares with value of $488,638 were sold by Hsu Chi-Ping. $3.23 million worth of Cadence Design Systems Inc (NASDAQ:CDNS) shares were sold by DEVGAN ANIRUDH. $126,350 worth of Cadence Design Systems Inc (NASDAQ:CDNS) shares were sold by SCALISE GEORGE.
The stock decreased 1.05% or $0.28 during the last trading session, hitting $26.49. About 2.53 million shares traded hands or 14.48% up from the average. Cadence Design Systems Inc (NASDAQ:CDNS) has risen 13.53% since April 21, 2016 and is uptrending. It has outperformed by 8.20% the S&P500.
Cadence Design Systems, Inc. develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The company has a market cap of $7.57 billion. The Company’s SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP): verification IP (VIP) and design IP. It has a 32.35 P/E ratio. The Firm provides maintenance for its software, emulation hardware and IP product offerings.
According to Zacks Investment Research, “Cadence Design Systems, Inc. provides comprehensive software and other technology and offers design and methodology services for the product development requirements of the world’s leading electronics companies. Cadence licenses its leading-edge electronic design automation software and hardware technology and provides a range of services to companies throughout the world to help optimize their product development processes.”
Analysts await Cadence Design Systems Inc (NASDAQ:CDNS) to report earnings on February, 1. They expect $0.20 EPS, down 20.00% or $0.05 from last year’s $0.25 per share. CDNS’s profit will be $57.15 million for 33.11 P/E if the $0.20 EPS becomes a reality. After $0.23 actual EPS reported by Cadence Design Systems Inc for the previous quarter, Wall Street now forecasts -13.04% negative EPS growth.
More recent Cadence Design Systems Inc (NASDAQ:CDNS) news were published by: Prnewswire.com which released: “Cadence Modus Test Solution Enables Support for Safety-Critical SoC Designs ..” on November 14, 2016. Also Prnewswire.com published the news titled: “Cadence Releases XJTAG DFT Assistant for OrCAD Capture” on November 08, 2016. Prnewswire.com‘s news article titled: “Cadence Delivers Industry’s First Comprehensive TCL1 Documentation to Support ..” with publication date: October 26, 2016 was also an interesting one.
Cadence Design Systems, Inc. (Cadence), incorporated on April 8, 1987, develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs), and electronic devices. The Company’s SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP): verification IP (VIP) and design IP. The Firm provides maintenance for its software, emulation hardware and IP product offerings. It also provides engineering services related to methodology, education, hosted design solutions and design services for ICs and development of custom IP. The Firm offers services and products to electronics systems and semiconductor companies, Internet service providers and other technology companies that deliver a range of electronics products in market divisions, such as mobile and consumer devices, communications, cloud and data center infrastructure, personal computers, automotive systems, medical systems and other devices.
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