Cadence Design Systems Inc (NDAQ:CDNS): RBC Capital Markets Reiterates Outperform Rating Today, Has a Target of $45.00/Share

October 12, 2017 - By Darrin Black

 Cadence Design Systems Inc (NDAQ:CDNS): RBC Capital Markets Reiterates Outperform Rating Today, Has a Target of $45.00/Share

Investors sentiment decreased to 1.09 in Q2 2017. Its down 0.08, from 1.17 in 2017Q1. It dropped, as 40 investors sold Cadence Design Systems Inc shares while 112 reduced holdings. 52 funds opened positions while 114 raised stakes. 233.59 million shares or 0.91% less from 235.74 million shares in 2017Q1 were reported.

Principal Financial Gp accumulated 0.04% or 1.21M shares. Us Bankshares De invested in 2,410 shares. Ubs Asset Mgmt Americas stated it has 0% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Gemmer Asset Limited Company holds 0% or 329 shares in its portfolio. The Kentucky-based Teachers Retirement Of The State Of Kentucky has invested 0.07% in Cadence Design Systems Inc (NASDAQ:CDNS). Schwab Charles Investment Mngmt Incorporated has 0.03% invested in Cadence Design Systems Inc (NASDAQ:CDNS). Gam Holding Ag stated it has 0.01% in Cadence Design Systems Inc (NASDAQ:CDNS). Stevens Cap L P stated it has 29,276 shares or 0.04% of all its holdings. Ww Asset Mgmt Inc holds 0.02% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS) for 20,369 shares. Suntrust Banks owns 14,332 shares. Schroder Mngmt Grp holds 1.94M shares or 0.12% of its portfolio. Ameritas Invest Ptnrs owns 83,671 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt Systems stated it has 0.02% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Fuller Thaler Asset accumulated 0% or 3,660 shares. Boothbay Fund Mgmt Llc holds 8,829 shares.

Since May 15, 2017, it had 0 insider purchases, and 6 selling transactions for $12.60 million activity. SHOVEN JOHN B had sold 50,000 shares worth $1.70M. Shares for $1.40 million were sold by RIBAR GEOFFREY G. TAN LIP BU sold 100,000 shares worth $3.31 million. $1.83M worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by Cowie James J on Monday, May 22.

Cadence Design Systems Inc (NDAQ:CDNS) Rating Reaffirmed

In a research report revealed to investors and clients this morning, RBC Capital Markets kept their Outperform rating on Cadence Design Systems Inc (NDAQ:CDNS) shares. The PT would indicate a possible upside of 9.04 % from firm’s current price.

Investors sentiment decreased to 1.09 in Q2 2017. Its down 0.08, from 1.17 in 2017Q1. It dropped, as 40 investors sold Cadence Design Systems Inc shares while 112 reduced holdings. 52 funds opened positions while 114 raised stakes. 233.59 million shares or 0.91% less from 235.74 million shares in 2017Q1 were reported.

Principal Financial Gp accumulated 0.04% or 1.21M shares. Us Bankshares De invested in 2,410 shares. Ubs Asset Mgmt Americas stated it has 0% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Gemmer Asset Limited Company holds 0% or 329 shares in its portfolio. The Kentucky-based Teachers Retirement Of The State Of Kentucky has invested 0.07% in Cadence Design Systems Inc (NASDAQ:CDNS). Schwab Charles Investment Mngmt Incorporated has 0.03% invested in Cadence Design Systems Inc (NASDAQ:CDNS). Gam Holding Ag stated it has 0.01% in Cadence Design Systems Inc (NASDAQ:CDNS). Stevens Cap L P stated it has 29,276 shares or 0.04% of all its holdings. Ww Asset Mgmt Inc holds 0.02% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS) for 20,369 shares. Suntrust Banks owns 14,332 shares. Schroder Mngmt Grp holds 1.94M shares or 0.12% of its portfolio. Ameritas Invest Ptnrs owns 83,671 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt Systems stated it has 0.02% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Fuller Thaler Asset accumulated 0% or 3,660 shares. Boothbay Fund Mgmt Llc holds 8,829 shares.

Since May 15, 2017, it had 0 insider purchases, and 6 selling transactions for $12.60 million activity. SHOVEN JOHN B had sold 50,000 shares worth $1.70M. Shares for $1.40 million were sold by RIBAR GEOFFREY G. TAN LIP BU sold 100,000 shares worth $3.31 million. $1.83M worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by Cowie James J on Monday, May 22.

Cadence Design Systems Inc (NASDAQ:CDNS) Ratings Coverage

Among 2 analysts covering Cadence Design Systems Inc (NDAQ:CDNS), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Cadence Design Systems Inc had 2 analyst reports since April 19, 2017 according to SRatingsIntel. On Wednesday, April 26 the stock rating was downgraded by DA Davidson to “Neutral”. The stock has “Buy” rating by RBC Capital Markets on Wednesday, April 19.

About 619,064 shares traded. Cadence Design Systems Inc (NDAQ:CDNS) has risen 37.90% since October 12, 2016 and is uptrending. It has outperformed by 21.20% the S&P500.

Investors wait Cadence Design Systems Inc (NASDAQ:CDNS) to report on October, 26 after the close. its quarterly earnings Wall Street analysts expect $0.24 EPS, up $0.01 or 4.35 % from last year’s $0.23 same quarter earnings. This translates into $67.23 million profit for CDNS giving the stock a 43.73 P/E. This is assuming the current $0.24 EPS is accurate. Cadence Design Systems Inc’s Wall Street analysts see -4.00 % negative EPS growth, taking into account the $0.25 EPS reproted in the previous quarter,

Cadence Design Systems, Inc. provides solutions that enable its clients to design electronic products. The company has market cap of $11.77 billion. The Company’s product categories include Functional Verification, Digital integrated circuits Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP). It has a 49.05 P/E ratio. Functional verification products are used to verify that the circuitry or the software designed will perform as intended.

More notable recent Cadence Design Systems Inc (NASDAQ:CDNS) news were published by: Prnewswire.com which released: “Cadence Announces Digital and Signoff Flow Support for Body-Bias Interpolation …” on October 12, 2017, also Prnewswire.com with their article: “Cadence Design Systems Announces Third Quarter 2017 Financial Results Webcast” published on October 06, 2017, Prnewswire.com published: “Hiroshima University Research Team Accelerates the Development of a Computer …” on October 12, 2017. More interesting news about Cadence Design Systems Inc (NASDAQ:CDNS) were released by: Prnewswire.com and their article: “Teradyne Standardizes on Cadence Xcelium Parallel Logic Simulator” published on October 10, 2017 as well as Prnewswire.com‘s news article titled: “Cadence DFM Signoff Solutions Achieve Qualification for Samsung 28nm FD-SOI …” with publication date: September 25, 2017.

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