Cadence Design Systems Inc (CDNS) : Shearlink Capital added new position in Cadence Design Systems Inc during the most recent quarter end. The investment management firm now holds 1,009,157 shares of Cadence Design Systems Inc which is valued at $23.9 Million , the company said in a statement filed on May 13, 2016 with the SEC.Cadence Design Systems Inc makes up approximately 9.33% of Shearlink Capital’s portfolio.
Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in CDNS in the latest quarter, The investment management firm added 29,900 additional shares and now holds a total of 37,759 shares of Cadence Design Systems Inc which is valued at $894,133. Cadence Design Systems Inc makes up approx 0.01% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Ibm Retirement Fund reduced its stake in CDNS by selling 38,129 shares or 56.52% in the most recent quarter. The Hedge Fund company now holds 29,333 shares of CDNS which is valued at $694,605. Cadence Design Systems Inc makes up approx 0.03% of Ibm Retirement Fund’s portfolio.Profund Advisors reduced its stake in CDNS by selling 11,822 shares or 26.66% in the most recent quarter. The Hedge Fund company now holds 32,519 shares of CDNS which is valued at $759,319. Cadence Design Systems Inc makes up approx 0.04% of Profund Advisors’s portfolio.Cookson Peirce Co Inc boosted its stake in CDNS in the latest quarter, The investment management firm added 21,140 additional shares and now holds a total of 524,980 shares of Cadence Design Systems Inc which is valued at $12.3 Million. Cadence Design Systems Inc makes up approx 1.94% of Cookson Peirce Co Inc’s portfolio. Shamrock Asset Management added CDNS to its portfolio by purchasing 713 company shares during the most recent quarter which is valued at $16,649. Cadence Design Systems Inc makes up approx 0.01% of Shamrock Asset Management’s portfolio.
Cadence Design Systems Inc closed down -0.27 points or -1.07% at $24.94 with 43,25,017 shares getting traded on Wednesday. Post opening the session at $25.27, the shares hit an intraday low of $24.83 and an intraday high of $25.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Cadence Design Systems Inc reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.27. The company had revenue of $447.86 million for the quarter, compared to analysts expectations of $444.68 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.
Many Wall Street Analysts have commented on Cadence Design Systems Inc. Company shares were Reiterated by Topeka Capital Markets on Apr 26, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $25 .Cadence Design Systems Inc was Downgraded by DA Davidson to ” Neutral” on Apr 6, 2016.
Cadence Design Systems Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Companys 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 Company 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 companys customers include electronics systems and semiconductor companies Internet service providers and other technology companies that deliver a range of electronics products in market segments such as mobile and consumer devices communications cloud and data center infrastructure medical systems and other devices.