What’s Next for Cadence Design Systems Incorporated (NASDAQ:CDNS) After Having More Shares Shorted?

September 17, 2017 - By Marguerite Chambers

 What's Next for Cadence Design Systems Incorporated (NASDAQ:CDNS) After Having More Shares Shorted?

Investors sentiment decreased to 0.77 in Q4 2016. Its down 0.02, from 0.79 in 2016Q3. It worsened, as 29 investors sold Cadence Design Systems Inc shares while 135 reduced holdings. 42 funds opened positions while 85 raised stakes. 228.19 million shares or 3.52% less from 236.52 million shares in 2016Q3 were reported.
Moreover, Capstone Asset Communications has 0.02% invested in Cadence Design Systems Inc (NASDAQ:CDNS). Commonwealth Of Pennsylvania Pub School Empls Retrmt holds 42,448 shares. Royal Natl Bank Of Canada accumulated 661,545 shares. 54,000 are held by Franklin Resources. Smith Asset Management Group Incorporated Ltd Partnership reported 0.8% in Cadence Design Systems Inc (NASDAQ:CDNS). California-based Blackrock Institutional Tru Communication Na has invested 0.03% in Cadence Design Systems Inc (NASDAQ:CDNS). Asset Management One holds 0.04% or 656,835 shares in its portfolio. Nj State Employees Deferred Compensation Plan reported 38,250 shares stake. Retail Bank Of America De invested in 1.92M shares. Northern Tru Corporation stated it has 2.65 million shares or 0.02% of all its holdings. Tocqueville Asset Mngmt Ltd Partnership holds 0% or 15,000 shares in its portfolio. 23,843 were reported by Ibm Retirement Fund. Meiji Yasuda Asset Mgmt Limited has invested 0.08% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Pictet Asset Management Ltd stated it has 3.66M shares or 0.34% of all its holdings. United Ser Automobile Association reported 0.01% stake.

Since May 15, 2017, it had 0 insider purchases, and 6 insider sales for $12.60 million activity. $3.40 million worth of Cadence Design Systems Inc (NASDAQ:CDNS) shares were sold by TAN LIP BU. ZAMAN ANEEL sold $959,087 worth of Cadence Design Systems Inc (NASDAQ:CDNS) on Friday, May 19. $1.70M worth of Cadence Design Systems Inc (NASDAQ:CDNS) was sold by SHOVEN JOHN B on Tuesday, May 23. Cowie James J also sold $1.83 million worth of Cadence Design Systems Inc (NASDAQ:CDNS) on Monday, May 22.

The stock of Cadence Design Systems Incorporated (NASDAQ:CDNS) registered an increase of 11.74% in short interest. CDNS’s total short interest was 4.04M shares in September as published by FINRA. Its up 11.74% from 3.62 million shares, reported previously. With 1.42 million shares average volume, it will take short sellers 3 days to cover their CDNS’s short positions. The short interest to Cadence Design Systems Incorporated’s float is 1.47%.

The stock increased 0.66% or $0.25 on September 15, reaching $38.27. About 57.22 million shares traded or 1359.69% up from the average. Cadence Design Systems Inc (NASDAQ:CDNS) has risen 37.90% since September 17, 2016 and is uptrending. It has outperformed by 21.20% the S&P500.

Cadence Design Systems, Inc. provides solutions that enable its clients to design electronic products. The company has market cap of $10.72 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 44.7 P/E ratio. Functional verification products are used to verify that the circuitry or the software designed will perform as intended.

Cadence Design Systems Inc (NASDAQ:CDNS) Ratings Coverage

Among 9 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Cadence Design Systems Inc had 21 analyst reports since July 29, 2015 according to SRatingsIntel. Benchmark initiated the shares of CDNS in report on Thursday, October 8 with “Hold” rating. RBC Capital Markets maintained Cadence Design Systems Inc (NASDAQ:CDNS) rating on Thursday, August 31. RBC Capital Markets has “Buy” rating and $39.0 target. Bank of America maintained the stock with “Buy” rating in Tuesday, July 25 report. The company was downgraded on Tuesday, June 14 by Needham. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) earned “Outperform” rating by Northland Capital on Thursday, November 19. RBC Capital Markets maintained Cadence Design Systems Inc (NASDAQ:CDNS) on Wednesday, July 5 with “Buy” rating. The rating was maintained by RBC Capital Markets with “Buy” on Friday, May 26. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) earned “Buy” rating by Needham on Tuesday, October 27. As per Wednesday, October 19, the company rating was initiated by Credit Suisse. The stock has “Outperform” rating by RBC Capital Markets on Tuesday, October 27.

More notable recent Cadence Design Systems Inc (NASDAQ:CDNS) news were published by: Zacks.com which released: “Why Is Cadence Design (CDNS) Up 5% Since the Last Earnings Report?” on August 24, 2017, also Prnewswire.com with their article: “Cadence Design Systems Set to Join S&P 500; Others to Join S&P MidCap 400 and …” published on September 08, 2017, Prnewswire.com published: “Cadence Tools and Flows Achieve Production-Ready Certification for TSMC’s …” on September 11, 2017. More interesting news about Cadence Design Systems Inc (NASDAQ:CDNS) were released by: Marketwatch.com and their article: “Cadence Design Systems to join S&P 500” published on September 08, 2017 as well as Prnewswire.com‘s news article titled: “Cadence Introduces the Conformal Smart Logic Equivalence Checker” with publication date: September 14, 2017.

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 FREE daily email newsletter.