Hussman Strategic Advisors adds Cadence Design Systems Inc (CDNS) to its portfolio

Cadence Design Systems Inc (CDNS) : Hussman Strategic Advisors added new position in Cadence Design Systems Inc during the most recent quarter end. The investment management firm now holds 100,000 shares of Cadence Design Systems Inc which is valued at $2,422,000 , the company said in a statement filed on Aug 1, 2016 with the SEC.Cadence Design Systems Inc makes up approximately 0.36% of Hussman Strategic Advisors’s portfolio.

Other Hedge Funds, Including , Kalos Management reduced its stake in CDNS by selling 1,669 shares or 4.33% in the most recent quarter. The Hedge Fund company now holds 36,850 shares of CDNS which is valued at $892,507. Cadence Design Systems Inc makes up approx 0.67% of Kalos Management’s portfolio.Smithfield Trust Co reduced its stake in CDNS by selling 60 shares or 0.72% in the most recent quarter. The Hedge Fund company now holds 8,280 shares of CDNS which is valued at $199,134. Cadence Design Systems Inc makes up approx 0.04% of Smithfield Trust Co’s portfolio.Alps Advisors Inc reduced its stake in CDNS by selling 1,288 shares or 6.84% in the most recent quarter. The Hedge Fund company now holds 17,545 shares of CDNS which is valued at $424,238.American Century Companies Inc reduced its stake in CDNS by selling 802,405 shares or 74.62% in the most recent quarter. The Hedge Fund company now holds 272,954 shares of CDNS which is valued at $6,600,028. Cadence Design Systems Inc makes up approx 0.01% of American Century Companies Inc’s portfolio.Capital One National Association reduced its stake in CDNS by selling 3,633 shares or 3.78% in the most recent quarter. The Hedge Fund company now holds 92,445 shares of CDNS which is valued at $2,413,739. Cadence Design Systems Inc makes up approx 0.19% of Capital One National Association’s portfolio.

Cadence Design Systems Inc opened for trading at $24.19 and hit $24.36 on the upside on Thursday, eventually ending the session at $24.33, with a gain of 0.45% or 0.11 points. The heightened volatility saw the trading volume jump to 13,67,639 shares. Company has a market cap of $7,113 M.

On the company’s financial health, Cadence Design Systems Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.28. The company had revenue of $453.02 million for the quarter, compared to analysts expectations of $449.51 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 $0.27 EPS.

Many Wall Street Analysts have commented on Cadence Design Systems Inc. Cadence Design Systems Inc was Downgraded by Needham to ” Hold” on Jun 14, 2016. RBC Capital Mkts Initiated Cadence Design Systems Inc on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $29.

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.

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