Cim adds Cadence Design Systems Inc (CDNS) to its portfolio

Cadence Design Systems Inc (CDNS) : Cim added new position in Cadence Design Systems Inc during the most recent quarter end. The investment management firm now holds 18,590 shares of Cadence Design Systems Inc which is valued at $483,154 , the company said in a statement filed on Oct 17, 2016 with the SEC.Cadence Design Systems Inc makes up approximately 0.23% of Cim’s portfolio.

Other Hedge Funds, Including , Algert Global reduced its stake in CDNS by selling 3,484 shares or 6.17% in the most recent quarter. The Hedge Fund company now holds 53,001 shares of CDNS which is valued at $1,360,006. Cadence Design Systems Inc makes up approx 0.40% of Algert Global’s portfolio.Capstone Asset Management Co reduced its stake in CDNS by selling 435 shares or 1.5% in the most recent quarter. The Hedge Fund company now holds 28,661 shares of CDNS which is valued at $735,441. Cadence Design Systems Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Simplex Trading sold out all of its stake in CDNS during the most recent quarter. The investment firm sold 4,417 shares of CDNS which is valued $112,766.

Cadence Design Systems Inc opened for trading at $26.09 and hit $26.28 on the upside on Friday, eventually ending the session at $25.99, with a gain of 0.27% or 0.07 points. The heightened volatility saw the trading volume jump to 14,56,628 shares. Company has a market cap of $7,598 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.

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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