Cadence Design (NASDAQ:CDNS) “Hold” Rating Has Just Been Reiterated by Needham

January 17, 2018 - By Nellie Frank

 Cadence Design (NASDAQ:CDNS)

Investors sentiment increased to 1.36 in Q3 2017. Its up 0.27, from 1.09 in 2017Q2. It increased, as 32 investors sold Cadence Design Systems, Inc. shares while 105 reduced holdings. 71 funds opened positions while 115 raised stakes. 234.20 million shares or 0.26% more from 233.59 million shares in 2017Q2 were reported.

Exxonmobil Tx holds 51,169 shares. Dodge And Cox reported 772,024 shares. Art Advisors Ltd Llc reported 0.13% of its portfolio in Cadence Design Systems, Inc. (NASDAQ:CDNS). Americafirst Cap Mngmt Ltd Liability Co invested in 1,988 shares or 0.11% of the stock. Hutchin Hill Lp has invested 0.02% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Schwab Charles Investment, a California-based fund reported 1.45M shares. Bessemer Group Inc has invested 0% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Piermont holds 11,490 shares or 0.15% of its portfolio. Legal & General Group Incorporated Public Ltd Llc accumulated 567,279 shares or 0.02% of the stock. Cornerstone Capital Management Ltd Limited Liability Company has invested 0.1% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Public Employees Retirement Of Ohio accumulated 173,384 shares or 0.04% of the stock. First Republic Invest Management Inc reported 22,584 shares stake. Cim Limited holds 0.2% or 12,090 shares. Landscape Management Ltd Liability has 0.03% invested in Cadence Design Systems, Inc. (NASDAQ:CDNS). Pettee holds 0.52% or 20,368 shares in its portfolio.

Since August 15, 2017, it had 0 insider purchases, and 11 sales for $16.85 million activity. Shares for $32,963 were sold by WALL JOHN M. Another trade for 5,000 shares valued at $184,400 was made by RIBAR GEOFFREY G on Monday, August 21. Another trade for 100,000 shares valued at $3.72M was sold by TAN LIP BU. Shares for $187,376 were sold by Cowie James J on Thursday, August 24.

Cadence Design (NASDAQ:CDNS) Rating Reaffirmed

Cadence Design (NASDAQ:CDNS) stock “Hold” rating has been reconfirmed by Analysts at Needham in an analyst report issued to investors and clients on Friday, 27 October.

Investors sentiment increased to 1.36 in Q3 2017. Its up 0.27, from 1.09 in 2017Q2. It increased, as 32 investors sold Cadence Design Systems, Inc. shares while 105 reduced holdings. 71 funds opened positions while 115 raised stakes. 234.20 million shares or 0.26% more from 233.59 million shares in 2017Q2 were reported.

Exxonmobil Tx holds 51,169 shares. Dodge And Cox reported 772,024 shares. Art Advisors Ltd Llc reported 0.13% of its portfolio in Cadence Design Systems, Inc. (NASDAQ:CDNS). Americafirst Cap Mngmt Ltd Liability Co invested in 1,988 shares or 0.11% of the stock. Hutchin Hill Lp has invested 0.02% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Schwab Charles Investment, a California-based fund reported 1.45M shares. Bessemer Group Inc has invested 0% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Piermont holds 11,490 shares or 0.15% of its portfolio. Legal & General Group Incorporated Public Ltd Llc accumulated 567,279 shares or 0.02% of the stock. Cornerstone Capital Management Ltd Limited Liability Company has invested 0.1% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Public Employees Retirement Of Ohio accumulated 173,384 shares or 0.04% of the stock. First Republic Invest Management Inc reported 22,584 shares stake. Cim Limited holds 0.2% or 12,090 shares. Landscape Management Ltd Liability has 0.03% invested in Cadence Design Systems, Inc. (NASDAQ:CDNS). Pettee holds 0.52% or 20,368 shares in its portfolio.

Since August 15, 2017, it had 0 insider purchases, and 11 sales for $16.85 million activity. Shares for $32,963 were sold by WALL JOHN M. Another trade for 5,000 shares valued at $184,400 was made by RIBAR GEOFFREY G on Monday, August 21. Another trade for 100,000 shares valued at $3.72M was sold by TAN LIP BU. Shares for $187,376 were sold by Cowie James J on Thursday, August 24.

Cadence Design Systems, Inc. (NASDAQ:CDNS) Ratings Coverage

Among 10 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 5 have Buy rating, 1 Sell and 4 Hold. Therefore 50% are positive. Cadence Design Systems Inc has $41 highest and $21 lowest target. $28’s average target is -37.56% below currents $44.84 stock price. Cadence Design Systems Inc had 24 analyst reports since July 29, 2015 according to SRatingsIntel. As per Thursday, February 4, the company rating was upgraded by DA Davidson. Needham maintained Cadence Design Systems, Inc. (NASDAQ:CDNS) on Tuesday, October 27 with “Buy” rating. On Thursday, October 8 the stock rating was initiated by Benchmark with “Hold”. KeyBanc Capital Markets maintained the shares of CDNS in report on Sunday, November 26 with “Hold” rating. Credit Suisse initiated the shares of CDNS in report on Wednesday, October 19 with “Neutral” rating. Topeka Capital Markets maintained it with “Buy” rating and $25 target in Tuesday, October 27 report. The stock of Cadence Design Systems, Inc. (NASDAQ:CDNS) has “Hold” rating given on Tuesday, June 14 by Needham. On Monday, December 12 the stock rating was downgraded by JP Morgan to “Underweight”. RBC Capital Markets initiated the stock with “Outperform” rating in Monday, June 6 report. On Wednesday, July 5 the stock rating was maintained by RBC Capital Markets with “Buy”.

The stock increased 1.26% or $0.56 during the last trading session, reaching $44.84. About 760,344 shares traded. Cadence Design Systems, Inc. (NASDAQ:CDNS) has risen 37.90% since January 17, 2017 and is uptrending. It has outperformed by 21.20% the S&P500.

Analysts await Cadence Design Systems, Inc. (NASDAQ:CDNS) to report earnings on February, 7. They expect $0.27 EPS, up 92.86 % or $0.13 from last year’s $0.14 per share. CDNS’s profit will be $76.24 million for 41.52 P/E if the $0.27 EPS becomes a reality. After $0.29 actual EPS reported by Cadence Design Systems, Inc. for the previous quarter, Wall Street now forecasts -6.90 % negative EPS growth.

Cadence Design Systems, Inc. provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis worldwide. The company has market cap of $12.66 billion. It offers functional verification, including emulation and prototyping hardware. It has a 48.85 P/E ratio. The Company’s functional verification offering consists of JasperGold, a formal verification platform; Incisive, a functional verification platform; and Palladium, a verification computing platform.

More recent Cadence Design Systems, Inc. (NASDAQ:CDNS) news were published by: Businesswire.com which released: “Cadence Tensilica HiFi Audio DSP is the First DSP IP Core to Support Dolby …” on January 08, 2018. Also Prnewswire.com published the news titled: “Platform9 Enables Cadence to Optimize a Cloud-First Approach for Its Internal …” on January 17, 2018. Nasdaq.com‘s news article titled: “Tailored Brands, Motorcar Parts of America, Cadence Design Systems, Red Hat …” with publication date: December 21, 2017 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.