Uss Investment Management Ltd Lowers stake in Cadence Design Systems Inc (CDNS)

Cadence Design Systems Inc (CDNS) : Uss Investment Management Ltd reduced its stake in Cadence Design Systems Inc by 32.15% during the most recent quarter end. The investment management company now holds a total of 3,461,200 shares of Cadence Design Systems Inc which is valued at $83,830,264 after selling 1,640,000 shares in Cadence Design Systems Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Cadence Design Systems Inc makes up approximately 1.38% of Uss Investment Management Ltd’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. Gargoyle Investment Advisor L.l.c. added CDNS to its portfolio by purchasing 41,000 company shares during the most recent quarter which is valued at $991,380. Cadence Design Systems Inc makes up approx 0.35% of Gargoyle Investment Advisor L.l.c.’s portfolio.Creative Planning boosted its stake in CDNS in the latest quarter, The investment management firm added 142 additional shares and now holds a total of 3,208 shares of Cadence Design Systems Inc which is valued at $81,836.Benjamin F. Edwards Company boosted its stake in CDNS in the latest quarter, The investment management firm added 1,872 additional shares and now holds a total of 2,922 shares of Cadence Design Systems Inc which is valued at $74,540. Cadence Design Systems Inc makes up approx 0.01% of Benjamin F. Edwards Company’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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