Renaissance Technologies Llc Upped Its Position in Cadence Design System Inc (NASDAQ:CDNS) by $23.05 Million as Price Declined

May 17, 2018 - By Benjamin Allen

Cadence Design Systems, Inc. (NASDAQ:CDNS) Corporate LogoBig Money Sentiment increased to 1.59 in 2017 Q4. It has change of 0.23, from 2017Q3’s 1.36. The ratio is positive due to CDNS positioning: 18 sold and 111 reduced. 72 funds took holdings and 133 increased holdings. Investors holded 234.20 million in 2017Q3 but now own 235.53 million shares or 0.57% more. Cim Ltd Company reported 0.2% of its capital in Cadence Design Systems, Inc. (NASDAQ:CDNS). Bnp Paribas Arbitrage Sa invested 0.02% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Profund Advsrs Limited Liability Corp holds 0.04% in Cadence Design Systems, Inc. (NASDAQ:CDNS) or 23,631 shs. 18,642 are owned by Mirae Asset Glob Investments Limited. Wright Serv Inc reported 0.18% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Credit Agricole S A owns 61,526 shs or 0.17% of their US capital. Netherlands-based Shell Asset Management Company has invested 0.02% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Moreover, Bridgeway Inc has 0.12% invested in Cadence Design Systems, Inc. (NASDAQ:CDNS). Axa holds 0.35% of its capital in Cadence Design Systems, Inc. (NASDAQ:CDNS) for 2.13M shs. Fukoku Mutual Life Insurance owns 0.04% invested in Cadence Design Systems, Inc. (NASDAQ:CDNS) for 6,200 shs. Utah Retirement Sys has 51,475 shs for 0.05% of their capital. Ativo Capital Mgmt Lc has 30,300 shs. Massachusetts-based Massachusetts Service Ma has invested 0.39% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Jefferies Gru Ltd Com holds 188,276 shs or 0.04% of its capital. Teacher Retirement Sys Of Texas reported 649,311 shs stake.

CDNS had 11 selling transactions and 0 insider purchases since December 11, 2017. This’s net activity of $14.73 million. $32,963 worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) shs were sold by WALL JOHN M. TAN LIP BU sold $4.35 million worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) or 100,000 shs on Friday, December 15. SHOVEN JOHN B also sold $2.25 million worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) shs. On Friday, April 27 ZAMAN ANEEL sold $1.75 million worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) or 43,733 shs.

The holdings In Cadence Design System Inc (NASDAQ:CDNS) owned by Renaissance Technologies Llc was increased. According to 2018Q1 Securities and Exchange report the increase is 82.54%. Cadence Design System Inc (NASDAQ:CDNS) stock Sank 13.87% while Renaissance Technologies Llc bought 640,200 shares. In 2018Q1, Renaissance Technologies Llc held 1.42 million shares of Cadence Design System Inc (NASDAQ:CDNS), valued at $52.06M, up from 775,600 last quarter. $11.62B is the Cadence Design System Inc’s market cap. CDNS is hitting $41.03 during the last trading session, after decreased 0.12%.Cadence Design Systems, Inc. has volume of 1.98M shares. Since May 17, 2017 CDNS has risen 14.90% and is uptrending. CDNS outperformed the S&P500 by 3.35%.

According to the report Renaissance Technologies Llc’s stake in Greif Inc (NYSE:GEF) was reduced by 224,400 shares to 58,900 shares valued at $3.08 million in 2018Q1. It operates about $63.99B and $91.44 billion US longs. Renaissance Technologies Llc cut its stake in Allergan Plc () and reduced Watsco Inc (NYSE:WSO) position by 79,100 shares for a total of 107,800 shares.

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

Total analysts of 6 have positions in Cadence Design (NASDAQ:CDNS) as follows: 3 rated it a “Buy”, 1 with “Sell” and 2 with “Hold”. The positive are 50%. Since November 26, 2017 according to StockzIntelligence Inc Cadence Design has 6 analyst reports. On Tuesday, April 24 the rating was upgraded by Needham to “Buy”. On Thursday, February 1 the rating was maintained by Credit Suisse with “Hold”. On Thursday, April 5 the stock has “Buy” rating by DA Davidson. The company rating was maintained by KeyBanc Capital Markets on Sunday, November 26. On Thursday, February 1 RBC Capital Markets maintained the shares of CDNS in report with “Buy” rating. The stock rating was maintained by JP Morgan with “Underweight” on Tuesday, April 24.

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.56.21 is the 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.

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

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