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Rheos Capital Works Inc. reduced its stake in Cadence Design Systems, Inc. (NASDAQ: CDNS) by 73.3% in the 3rd quarter, selling 115,000 shares. The company ended the quarter with 41,900 shares worth $9,817,000. Meanwhile, other hedge funds have increased or decreased their stakes in the company as well. Bank Julius Baer & Co. Ltd Zurich acquired 713,650,718 shares, while BlackRock Inc., State Street Corp, Jennison Associates LLC, and Geode Capital Management LLC also adjusted their stakes. Analysts have issued ratings, with most giving Cadence Design Systems a buy rating and an average target price of $264.50. The company’s stock performance on NASDAQ shows an average volume of 1,631,068 shares, with a 50-day moving average of $259.53 and a 200-day moving average of $243.41. Cadence Design Systems, Inc. ended the last quarter with a net margin of 24.42% and a return on equity of 34.64%. The company is expected to post 4.12 EPS for the current year. Insider transactions include the sale of shares by VP Chin-Chi Teng and Director Vincentelli Albert Sangiovanni. Lastly, Cadence Design Systems, Inc. provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide, focusing on functional verification services. MarketBeat provides the latest updates on hedge funds’ 13F filings and insider trading.



Original: Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Rheos Capital Works Inc.