Is Cadence Design Systems Incorporated (NASDAQ:CDNS) a Buy? The Stock Reported more Sellers

September 17, 2017 - By Michael Collier

 Is Cadence Design Systems Incorporated (NASDAQ:CDNS) a Buy? The Stock Reported more Sellers

Investors sentiment decreased to 0.77 in 2016 Q4. Its down 0.02, from 0.79 in 2016Q3. It dropped, as 29 investors sold Cadence Design Systems Inc shares while 135 reduced holdings. 42 funds opened positions while 85 raised stakes. 228.19 million shares or 3.52% less from 236.52 million shares in 2016Q3 were reported.
Amp Invsts Ltd has 0.02% invested in Cadence Design Systems Inc (NASDAQ:CDNS) for 156,081 shares. Shamrock Asset Mngmt Lc invested in 0.01% or 713 shares. Lazard Asset Management Limited Liability Company stated it has 909 shares. Price T Rowe Assocs Inc Md holds 189,101 shares. 35,581 are held by Advantus Cap Inc. Mutual Of America Cap Mngmt invested in 221,721 shares. Geode Capital Management Limited Company has invested 0.03% in Cadence Design Systems Inc (NASDAQ:CDNS). Zacks Mngmt invested in 76,970 shares or 0.06% of the stock. Public Employees Retirement Association Of Colorado invested in 0.01% or 62,937 shares. Accredited Invsts stated it has 13,000 shares or 0.08% of all its holdings. California State Teachers Retirement System holds 621,463 shares or 0.03% of its portfolio. Northwestern Mutual Wealth has invested 0% in Cadence Design Systems Inc (NASDAQ:CDNS). 17,872 are owned by Asset. Stevens Cap Mgmt L P holds 0.1% or 96,054 shares in its portfolio. Utd Serv Automobile Association invested 0.01% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS).

Since May 15, 2017, it had 0 insider purchases, and 6 selling transactions for $12.60 million activity. $3.31M worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by TAN LIP BU. On Thursday, June 1 the insider RIBAR GEOFFREY G sold $1.40 million. $959,087 worth of stock was sold by ZAMAN ANEEL on Friday, May 19. Cowie James J had sold 55,000 shares worth $1.83M on Monday, May 22.

The stock of Cadence Design Systems Incorporated (NASDAQ:CDNS) registered an increase of 11.74% in short interest. CDNS’s total short interest was 4.04M shares in September as published by FINRA. Its up 11.74% from 3.62M shares, reported previously. With 1.42M shares average volume, it will take short sellers 3 days to cover their CDNS’s short positions. The short interest to Cadence Design Systems Incorporated’s float is 1.47%.

The stock increased 0.66% or $0.25 on September 15, reaching $38.27. About 57.22 million shares traded or 1359.69% up from the average. Cadence Design Systems Inc (NASDAQ:CDNS) has risen 37.90% since September 17, 2016 and is uptrending. It has outperformed by 21.20% the S&P500.

Cadence Design Systems, Inc. provides solutions that enable its clients to design electronic products. The company has market cap of $10.72 billion. The Company’s product categories include Functional Verification, Digital integrated circuits Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP). It has a 44.7 P/E ratio. Functional verification products are used to verify that the circuitry or the software designed will perform as intended.

Cadence Design Systems Inc (NASDAQ:CDNS) Ratings Coverage

Among 9 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Cadence Design Systems Inc had 21 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Neutral” rating by DA Davidson given on Wednesday, April 6. The rating was downgraded by JP Morgan to “Underweight” on Monday, December 12. The stock has “Outperform” rating by Northland Capital on Tuesday, October 27. The firm has “Outperform” rating by RBC Capital Markets given on Monday, June 6. The stock has “Buy” rating by Needham on Tuesday, October 27. The firm has “Hold” rating by Benchmark given on Thursday, October 8. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) has “Outperform” rating given on Thursday, November 19 by Northland Capital. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, October 27. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) earned “Buy” rating by DA Davidson on Monday, October 10. The stock has “Buy” rating by Topeka Capital Markets on Tuesday, October 27.

More notable recent Cadence Design Systems Inc (NASDAQ:CDNS) news were published by: Prnewswire.com which released: “Cadence Tools and Flows Achieve Production-Ready Certification for TSMC’s …” on September 11, 2017, also Seekingalpha.com with their article: “Cadence Design Systems’ (CDNS) Management presents Deutsche Bank Technology …” published on September 13, 2017, Prnewswire.com published: “Cadence Introduces the Conformal Smart Logic Equivalence Checker” on September 14, 2017. More interesting news about Cadence Design Systems Inc (NASDAQ:CDNS) were released by: Prnewswire.com and their article: “Cadence Announces Legato Memory Solution, Industry’s First Integrated Memory …” published on September 07, 2017 as well as Prnewswire.com‘s news article titled: “Cadence Delivers Comprehensive IP Portfolio for TSMC 16FFC Automotive Design …” with publication date: September 07, 2017.

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