Cadence Design System Inc (NASDAQ:CDNS) Price Declined While Renaissance Technologies Llc Upped Its Position

May 17, 2018 - By Dominique Gillenwater

Cadence Design Systems, Inc. (NASDAQ:CDNS) Corporate LogoDuring Q4 2017 the big money sentiment increased to 1.59. That’s change of 0.23, from 2017Q3’s 1.36. 18 investors sold all, 111 reduced holdings as CDNS ratio increased. 133 increased stakes while 72 funds bought stakes. Funds hold 235.53 million shares thus 0.57% more from 2017Q3’s 234.20 million shares. Nordea Investment Mngmt Ab owns 16,536 shs for 0% of their capital. Nj State Employees Deferred Compensation Plan stated it has 38,250 shs. Sg Americas Ltd Co holds 0.02% in Cadence Design Systems, Inc. (NASDAQ:CDNS) or 45,250 shs. Hartford Invest owns 58,828 shs. Mutual Of America Cap Management Limited Liability Company stated it has 33,080 shs or 0.02% of all its holdings. Victory Capital accumulated 53,974 shs. Great Lakes Advsrs Limited Liability Corp has invested 0.25% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Boothbay Fund Management Ltd Llc has invested 0.04% in Cadence Design Systems, Inc. (NASDAQ:CDNS). First Bancorp Of Omaha, a Nebraska-based fund reported 181,330 shs. National Bank & Trust Of Montreal Can has 4.33 million shs for 0.16% of their capital. The Arizona-based Arizona State Retirement Systems has invested 0.06% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Jpmorgan Chase & invested 0.01% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Connor Clark And Lunn Invest Mgmt stated it has 11,950 shs or 0% of all its holdings. Oregon Pub Employees Retirement Fund holds 169,416 shs or 0.11% of its capital. State Of Alaska Department Of Revenue accumulated 0.05% or 47,240 shs.

CDNS had 11 selling transactions and 0 buys since December 11, 2017. This’s net activity of $14.73 million. SHOVEN JOHN B sold $2.25M worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) on Monday, January 8. DEVGAN ANIRUDH sold $2.00M worth of stock or 44,526 shs. ZAMAN ANEEL had sold 43,733 shs worth $1.75M. 25,000 shs were sold by TAN LIP BU, worth $1.12M.

The holdings In Cadence Design System Inc (NASDAQ:CDNS) held by Renaissance Technologies Llc was upped. According to 2018Q1 Securities and Exchange regulatory filling the increase is 82.54%. 640,200 shares were bought by Renaissance Technologies Llc as Cadence Design System Inc (NASDAQ:CDNS) stock declined 13.87% with the market. In 2018Q1, the 1.42M shares in Cadence Design System Inc (NASDAQ:CDNS) held by Renaissance Technologies Llc were valued $52.06M, up from 775,600 last quarter. $11.62 billion is the market cap of Cadence Design System Inc. Ticker’s shares touched $41.03 during the last trading session after 0.12% change.Cadence Design Systems, Inc. has volume of 1.98 million shares. Since May 17, 2017 CDNS has risen 14.90% and is uptrending. The stock outperformed the S&P500 by 3.35%.

Renaissance Technologies Llc operates about $63.99B and $91.44 billion US longs. According to a filing the fund decreased its stake in Gerdau S A (NYSE:GGB) by 2.78M shares to 13.36M shares, valued at $62.28 million in 2018Q1. It decreased Red Hat Inc (NYSE:RHT) position by 99,500 shares to 4,700 shares, and cut its Armstrong World Inds Inc New (NYSE:AWI) stake.

Jim Simons, one of the wealthiest men on the planet, is also the Medallion Hedge Fund manager. Through the Medallion Fund, inefficiencies in the stock market are exploited. The Medallion Fund takes advantage of large transaction inefficiencies by employing an algorithm to determine whether or not it’s execution is run well. Through this process, Simons has brought Medallion higher transaction costs as well as high expenses. They now charge a five percent fixed fee, as well as a high 44% performance fee. Renaissance Technologies Llc is a New York-based hedge fund that was founded by Jim Simons. It had more than $63.99 billion assets under management in March, 2014. Renaissance Technologies Llc is the 79th largest hedge fund in our database. Taken from Renaissance Technologies latest Adv, the fund reported to have 280 full and part-time employees. Among which 140 performing investment advisory and research functions. The hedge fund had between 26-100 clients.

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

In total 6 analysts cover Cadence Design (NASDAQ:CDNS). “Buy” rating has 3, “Sell” are 1, while 2 are “Hold”. 50% are bullish. 6 are the (NASDAQ:CDNS)’s analyst reports since November 26, 2017 according to StockzIntelligence Inc. On Tuesday, April 24 the firm has “Buy” rating given by Needham. On Thursday, April 5 the rating was upgraded by DA Davidson to “Buy”. On Tuesday, April 24 the stock of Cadence Design Systems, Inc. (NASDAQ:CDNS) has “Underweight” rating given by JP Morgan. On Sunday, November 26 the stock of Cadence Design Systems, Inc. (NASDAQ:CDNS) has “Hold” rating given by KeyBanc Capital Markets. On Thursday, February 1 the rating was maintained by RBC Capital Markets with “Buy”. On Thursday, February 1 the firm earned “Hold” rating by Credit Suisse.

Cadence Design Systems, Inc. provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis worldwide.The firm is worth $11.62 billion. It offers functional verification, including emulation and prototyping hardware.The P/E ratio is 56.21. The Company’s functional verification offering consists of JasperGold, a formal verification platform; Incisive, a functional verification platform; and Palladium, a verification computing platform.

Cadence Design Systems, Inc. (NASDAQ:CDNS) Institutional Investors Chart

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