40 North Management Lowers stake in Cadence Design Systems Inc (CDNS)

Cadence Design Systems Inc (CDNS) : 40 North Management reduced its stake in Cadence Design Systems Inc by 23.32% during the most recent quarter end. The investment management company now holds a total of 8,763,135 shares of Cadence Design Systems Inc which is valued at $223,547,574 after selling 2,664,558 shares in Cadence Design Systems Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Cadence Design Systems Inc makes up approximately 44.51% of 40 North Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc boosted its stake in CDNS in the latest quarter, The investment management firm added 380 additional shares and now holds a total of 88,317 shares of Cadence Design Systems Inc which is valued at $2,252,967. Cadence Design Systems Inc makes up approx 0.01% of Envestnet Asset Management Inc’s portfolio.Alliancebernstein boosted its stake in CDNS in the latest quarter, The investment management firm added 215,697 additional shares and now holds a total of 3,071,820 shares of Cadence Design Systems Inc which is valued at $76,304,009. Cadence Design Systems Inc makes up approx 0.07% of Alliancebernstein’s portfolio.California State Teachers Retirement System boosted its stake in CDNS in the latest quarter, The investment management firm added 5,400 additional shares and now holds a total of 638,263 shares of Cadence Design Systems Inc which is valued at $15,994,871. Cadence Design Systems Inc makes up approx 0.03% of California State Teachers Retirement System’s portfolio.Ngam Advisors boosted its stake in CDNS in the latest quarter, The investment management firm added 519 additional shares and now holds a total of 21,302 shares of Cadence Design Systems Inc which is valued at $531,059. Cadence Design Systems Inc makes up approx 0.01% of Ngam Advisors’s portfolio.Acadian Asset Management boosted its stake in CDNS in the latest quarter, The investment management firm added 17,772 additional shares and now holds a total of 39,913 shares of Cadence Design Systems Inc which is valued at $1,043,326. Cadence Design Systems Inc makes up approx 0.01% of Acadian Asset Management’s portfolio.

Cadence Design Systems Inc closed down -0.08 points or -0.30% at $26.4 with 14,91,872 shares getting traded on Monday. Post opening the session at $26.97, the shares hit an intraday low of $26.38 and an intraday high of $26.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Cadence Design Systems Inc reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 24, 2016. Analyst had a consensus of $0.28. The company had revenue of $446.20 million for the quarter, compared to analysts expectations of $446.47 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Cadence Design Systems Inc. Cadence Design Systems Inc was Initiated by Credit Suisse to “Neutral” on Oct 19, 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 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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