Korea Investment CORP Decreases Stake in Cadence Design Systems Inc (CDNS)

Marco Green
June 6, 2017

If the $37.60 price target is reached, the company will be worth $600.00 million more.

About 390,252 shares traded. (CDNS) has a trading volume of 1.87 Million shares, with an average trading volume of 2510 shares - with shares dropping to a 52 week low of $22.99, and the company's shares hitting a 52 week high of $ 35.43. It has outperformed by 21.20% the S&P500. Following the completion of the sale, the insider now directly owns 313,381 shares of the company's stock, valued at approximately $9,774,353.39. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker's stock valued at $200,000 after buying an additional 31 shares during the last quarter. Wells Fargo & Company now has $258.56 billion valuation.

Investors sentiment decreased to 0.77 in Q4 2016. Its up 0.21, from 0.91 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.

The number of shares now held by investors is 279.6 Million. Dynegy Inc. (NYSE:DYN) has been recently noted at -62.540% off of the 52-week high of 22.010 and +41.181% separated from the 52-week low of 5.840. Dnb Asset As invested 0% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Cadence Capital Management LLC increased its stake in shares of Cadence Design Systems by 0.5% in the fourth quarter. Louisiana State Employees Retirement Systems reported 0.09% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Shares of Palo Alto Networks, Inc. Northland Capital maintained Cadence Design Systems Inc (NASDAQ:CDNS) on Thursday, November 19 with "Outperform" rating. (CDNS) may be overvalued, however, this can also depend upon the situation of the market; if the market is strong then it could suggest that Cadence Design Systems Inc. However the six-month change in the insider ownership was recorded -30.21%, as well as three-month change in the institutional ownership was recorded 1.66%.

The Stock had a 2.29 Consensus Analyst Recommendation 30 Days Ago, whereas 60 days ago and 90 days ago the analyst recommendations were 2.13 and 2.13 respectively. Bnp Paribas Prns holds 14,434 shares. $61,170 worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by Cowie James J on Wednesday, February 8. Over the last quarter, insiders sold 366,413 shares of company stock worth $11,884,345. Last session Cadence Design Systems, Inc. DEVGAN ANIRUDH had sold 20,000 shares worth $623,836.

A number of institutional investors have recently made changes to their positions in the stock. The legal version of this story can be viewed at https://sportsperspectives.com/2017/06/03/cadence-design-systems-inc-cdns-insider-aneel-zaman-sells-29406-shares-updated.html. On average, analysts anticipate that Cadence Design Systems Inc will post $1.38 EPS for the current year. Therefore 50% are positive.

Many analysts have provided their estimated foresights on Cadence Design Systems Inc.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. The company was maintained on Tuesday, October 27 by RBC Capital Markets. Zacks Investment Research upgraded Cadence Design Systems from a "hold" rating to a "buy" rating and set a $36.00 price target for the company in a research report on Thursday, April 27th. The firm has "Neutral" rating by Credit Suisse given on Wednesday, October 19. Wolfe Research maintained the stock with "Outperform" rating in Thursday, October 29 report. Northland Capital maintained Cadence Design Systems Inc (NASDAQ:CDNS) on Tuesday, October 27 with "Outperform" rating. The firm earned "Hold" rating on Tuesday, June 14 by Needham.

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 45.33 and a beta of 1.00. 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).

Another critical number in evaluating a stock is P/E or the price to earnings ratio. Functional verification products are used to verify that the circuitry or the software designed will perform as intended. However the company reported $0.29 earnings per share for the same quarter during a year ago. CDNS's profit will be $59.20 million for 42.23 P/E if the $0.21 EPS becomes a reality. The consensus mean EPS for the current quarter is at $0.32 derived from a total of 9 estimates from the analysts who have weighed in on projected earnings. SCALISE GEORGE had sold 25,000 shares worth $644,000 on Wednesday, December 7. $499,108 worth of stock was bought by SARGENT RONALD on Friday, May 5. Its down 0.02, from 0.79 in 2016Q3. Proshare Advsr Limited Liability Co reported 33,897 shares. Tokio Marine Asset Management Limited has 0.1% invested in General Dynamics Corporation (NYSE:GD). Gideon Capital Incorporated holds 0.28% or 17,110 shares in its portfolio. Strs Ohio accumulated 4,354 shares. Its down 13.45% from 6.09M shares previously. Psagot Invest House Ltd reported 201 shares stake. Montecito Financial Bank Trust owns 1,968 shares. Birinyi Associate holds 0.49% in Wells Fargo & Co (NYSE:WFC) or 15,750 shares. Profund accumulated 43,331 shares. A PEG Ratio below one may represent that the company is undervalued. Eaton Vance Mgmt stated it has 344,974 shares or 0.02% of all its holdings.

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