Could Cadence Design Systems Inc Lose Strenght? Option Traders Don’t Think So

 Could Cadence Design Systems Inc Lose Strenght? Option Traders Don't Think So

In today’s session Cadence Design Systems Inc (CDNS) registered an unusually high (1,276) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious CDNS increase. With 1,276 contracts traded and 734 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: CDNS161216C00027000 closed last at: $0.2 or 20% down. About 252,175 shares traded hands. Cadence Design Systems Inc (NASDAQ:CDNS) has risen 6.93% since April 11, 2016 and is uptrending. It has outperformed by 0.79% the S&P500.

Cadence Design Systems Inc (NASDAQ:CDNS) Ratings Coverage

Out of 8 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $29 is the highest target while $21 is the lowest. The $25.13 average target is -1.06% below today’s ($25.4) stock price. Cadence Design Systems Inc has been the topic of 15 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Tuesday, October 27 by Northland Capital. As per Wednesday, October 19, the company rating was initiated by Credit Suisse. As per Tuesday, October 27, the company rating was maintained by Needham. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) has “Buy” rating given on Tuesday, October 27 by Topeka Capital Markets. The firm has “Hold” rating given on Tuesday, June 14 by Needham. The firm has “Neutral” rating by DA Davidson given on Wednesday, April 6. RBC Capital Markets initiated Cadence Design Systems Inc (NASDAQ:CDNS) rating on Monday, June 6. RBC Capital Markets has “Outperform” rating and $29 price target. The rating was initiated by Benchmark on Thursday, October 8 with “Hold”. Northland Capital maintained Cadence Design Systems Inc (NASDAQ:CDNS) on Thursday, November 19 with “Outperform” rating. The firm has “Buy” rating by DA Davidson given on Monday, October 10.

According to Zacks Investment Research, “Cadence Design Systems, Inc. provides comprehensive software and other technology and offers design and methodology services for the product development requirements of the world’s leading electronics companies. Cadence licenses its leading-edge electronic design automation software and hardware technology and provides a range of services to companies throughout the world to help optimize their product development processes.”

Insitutional Activity: The institutional sentiment increased to 1.4 in 2016 Q2. Its up 0.10, from 1.3 in 2016Q1. The ratio improved, as 26 funds sold all Cadence Design Systems Inc shares owned while 101 reduced positions. 53 funds bought stakes while 125 increased positions. They now own 245.54 million shares or 5.93% less from 261.03 million shares in 2016Q1.
Macquarie Gru Limited holds 0.01% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS) for 108,090 shares. Da Davidson And Company has invested 0% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Stephens Ar has 13,162 shares for 0.01% of their US portfolio. Janus Cap Limited Liability has 0.51% invested in the company for 24.93 million shares. Bluecrest Capital Management reported 10,177 shares or 0.01% of all its holdings. Voya Ltd Liability Com, a Georgia-based fund reported 162,903 shares. State Street holds 9.33 million shares or 0.02% of its portfolio. Sei Investments Commerce holds 0.01% or 59,694 shares in its portfolio. Whittier Commerce accumulated 50 shares or 0% of the stock. The Kentucky-based Alphamark Advsrs Lc has invested 1.68% in Cadence Design Systems Inc (NASDAQ:CDNS). Herald Investment Limited has 0.25% invested in the company for 25,000 shares. Robecosam Ag last reported 2,600 shares in the company. Gsa Cap Ptnrs Llp has invested 0.13% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Andra Ap reported 113,900 shares or 0.07% of all its holdings. Ellington Ltd Liability Com last reported 9,500 shares in the company.

Insider Transactions: Since May 16, 2016, the stock had 0 insider buys, and 24 sales for $28.03 million net activity. $3.66 million worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by TAN LIP BU. DEVGAN ANIRUDH had sold 130,000 shares worth $3.23M on Thursday, August 11. $126,350 worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by SCALISE GEORGE on Monday, September 12. 13,548 shares were sold by BECKLEY THOMAS P, worth $338,700 on Monday, August 22. The insider Cowie James J sold 59,509 shares worth $1.50 million. Shares for $612,500 were sold by SANGIOVANNI VINCENTELLI ALBERTO on Friday, May 20. Hsu Chi-Ping had sold 20,000 shares worth $484,400 on Friday, May 20.

Cadence Design Systems, Inc. develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The company has a market cap of $7.22 billion. 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. It has a 31.02 P/E ratio. The Firm provides maintenance for its software, emulation hardware and IP product offerings.

CDNS Company Profile

Cadence Design Systems, Inc. (Cadence), incorporated on April 8, 1987, 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 Firm 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 Firm offers services and products to electronics systems and semiconductor companies, Internet service providers and other technology companies that deliver a range of electronics products in market divisions, such as mobile and consumer devices, communications, cloud and data center infrastructure, personal computers, automotive systems, medical systems and other devices.

More notable recent Cadence Design Systems Inc (NASDAQ:CDNS) news were published by: Prnewswire.com which released: “Cadence Reports Third Quarter 2016 Financial Results” on October 24, 2016, also Prnewswire.com with their article: “Registration for Worldwide MEMS Design Contest Opens” published on November 02, 2016, Prnewswire.com published: “Fujitsu Adopts Cadence Palladium Z1 Enterprise Emulation Platform for Post-K …” on October 24, 2016. More interesting news about Cadence Design Systems Inc (NASDAQ:CDNS) were released by: Prnewswire.com and their article: “Media Alert: Cadence Enables Customer Innovation with ARM-Optimized Solutions …” published on October 18, 2016 as well as Seekingalpha.com‘s news article titled: “Cadence Design Systems Shows Strong Fundamentals” with publication date: October 13, 2016.

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