Mitsubishi UFJ Trust & Banking Corp Has $22.64 Million Holdings in Cadence Design Systems, Inc. (CDNS)
Mitsubishi UFJ Trust & Banking Corp cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,583 shares of the software maker’s stock after selling 2,507 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.20% of Cadence Design Systems worth $22,639,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Creative Planning raised its stake in Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after buying an additional 2,323 shares in the last quarter. Advisor Group Inc. raised its stake in Cadence Design Systems by 151.4% in the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock valued at $165,000 after buying an additional 2,505 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Cadence Design Systems in the third quarter valued at $170,000. Commonwealth Bank of Australia raised its stake in Cadence Design Systems by 36.6% in the second quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock valued at $161,000 after buying an additional 1,300 shares in the last quarter. Finally, Parkwood LLC acquired a new stake in Cadence Design Systems in the third quarter valued at $201,000. Institutional investors own 84.81% of the company’s stock.
Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $43.55 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64. Cadence Design Systems, Inc. has a 52-week low of $24.15 and a 52-week high of $45.64. The company has a market capitalization of $12,048.30, a PE ratio of 45.88, a PEG ratio of 3.37 and a beta of 0.93.
Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The firm had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. During the same quarter last year, the company posted $0.30 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. research analysts forecast that Cadence Design Systems, Inc. will post 1.06 EPS for the current fiscal year.
In related news, insider Thomas P. Beckley sold 43,469 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.09, for a total transaction of $1,916,548.21. Following the transaction, the insider now owns 225,863 shares of the company’s stock, valued at $9,958,299.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James J. Cowie sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $42.75, for a total value of $1,496,250.00. Following the transaction, the vice president now directly owns 117,082 shares in the company, valued at approximately $5,005,255.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,224 shares of company stock worth $9,879,242. Corporate insiders own 2.55% of the company’s stock.
A number of research firms have recently commented on CDNS. KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 target price on shares of Cadence Design Systems in a research report on Friday, October 27th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, November 1st. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $40.60.
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About Cadence Design Systems
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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