Copper Rock Capital Partners Lowers stake in Cadence Design Systems Inc (CDNS)

Cadence Design Systems Inc (CDNS) : Copper Rock Capital Partners reduced its stake in Cadence Design Systems Inc by 0.94% during the most recent quarter end. The investment management company now holds a total of 1,476,617 shares of Cadence Design Systems Inc which is valued at $34.3 Million after selling 14,045 shares in Cadence Design Systems Inc according to a report filed by the company on Apr 5, 2016 with the SEC.Cadence Design Systems Inc makes up approximately 3.01% of Copper Rock Capital Partners’s portfolio.

Other Hedge Funds, Including , Weaver C. Barksdale Associates reduced its stake in CDNS by selling 25 shares or 7.74% in the most recent quarter. The Hedge Fund company now holds 298 shares of CDNS which is valued at $6,923. Cadence Design Systems Inc makes up approx 0.01% of Weaver C. Barksdale Associates’s portfolio.

On the company’s financial health, Cadence Design Systems Inc reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.29. The company had revenue of $441.08 million for the quarter, compared to analysts expectations of $440.36 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Cadence Design Systems Inc. Cadence Design Systems Inc was Downgraded by DA Davidson to ” Neutral” on Apr 6, 2016. Company shares were Upgraded by DA Davidson on Feb 4, 2016 to ” Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $22 .

Cadence Design Systems Inc closed down -0.18 points or -0.77% at $23.23 with 21,59,945 shares getting traded on Monday. Post opening the session at $23.44, the shares hit an intraday low of $23.17 and an intraday high of $23.67 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 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 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 company’s 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.

Leave a Reply

Cadence Design Systems Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Cadence Design Systems Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.