Could Cadence Design Systems Incorporated (NASDAQ:CDNS) Go Up After Its Newest Short Interest Report?

September 17, 2017 - By Clifton Ray

 Could Cadence Design Systems Incorporated (NASDAQ:CDNS) Go Up After Its Newest Short Interest Report?

Investors sentiment decreased to 0.77 in 2016 Q4. Its down 0.02, from 0.79 in 2016Q3. It dropped, 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.
Shell Asset invested in 39,735 shares. Legal And General Public Ltd Com holds 0.01% or 324,296 shares. Products Prtnrs Limited Liability Corp holds 328,064 shares or 0.54% of its portfolio. Raymond James And Assocs reported 188,749 shares. State Teachers Retirement Systems holds 0.03% in Cadence Design Systems Inc (NASDAQ:CDNS) or 521,999 shares. Jaffetilchin Inv Partners Limited Liability Co has invested 0.07% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Stevens Cap Management Limited Partnership owns 0.1% invested in Cadence Design Systems Inc (NASDAQ:CDNS) for 96,054 shares. Daiwa invested in 0% or 7,700 shares. Nine Chapters Cap Mgmt Ltd Liability has invested 0.73% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Moreover, Tiaa Cref Inv Mngmt Ltd has 0.02% invested in Cadence Design Systems Inc (NASDAQ:CDNS). Mutual Of America Mgmt Limited Liability Company reported 221,721 shares stake. M&T State Bank stated it has 30,580 shares or 0% of all its holdings. Services Automobile Association stated it has 0.01% of its portfolio in Cadence Design Systems Inc (NASDAQ:CDNS). Stephens Ar reported 12,628 shares or 0.01% of all its holdings. Hightower Advsr Limited Com stated it has 0.06% in Cadence Design Systems Inc (NASDAQ:CDNS).

Since May 15, 2017, it had 0 insider purchases, and 6 insider sales for $12.60 million activity. SHOVEN JOHN B had sold 50,000 shares worth $1.70 million. 39,986 Cadence Design Systems Inc (NASDAQ:CDNS) shares with value of $1.40 million were sold by RIBAR GEOFFREY G. Cowie James J had sold 55,000 shares worth $1.83M on Monday, May 22. ZAMAN ANEEL had sold 29,406 shares worth $959,087.

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 1.42M 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 57.22M 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. The firm has “Buy” rating given on Wednesday, July 5 by RBC Capital Markets. The stock has “Outperform” rating by RBC Capital Markets on Monday, June 6. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 9. 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 Topeka Capital Markets on Tuesday, October 27. The rating was downgraded by JP Morgan to “Underweight” on Monday, December 12. The firm has “Buy” rating by DA Davidson given on Monday, October 10. The firm has “Outperform” rating given on Tuesday, October 27 by RBC Capital Markets. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) has “Hold” rating given on Thursday, October 8 by Benchmark. DA Davidson downgraded Cadence Design Systems Inc (NASDAQ:CDNS) on Wednesday, April 6 to “Neutral” rating.

More notable recent Cadence Design Systems Inc (NASDAQ:CDNS) news were published by: Prnewswire.com which released: “Cadence Delivers Comprehensive IP Portfolio for TSMC 16FFC Automotive Design …” on September 07, 2017, also Seekingalpha.com with their article: “Cadence Design Systems’ (CDNS) Management presents Deutsche Bank Technology …” published on September 13, 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: Zacks.com and their article: “Why Is Cadence Design (CDNS) Up 5% Since the Last Earnings Report?” published on August 24, 2017 as well as Prnewswire.com‘s news article titled: “Cadence Introduces the Conformal Smart Logic Equivalence Checker” with publication date: September 14, 2017.

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