Eric Bannasch’s Cadian Capital Management Reported 5.22% Passive Stake in $LTXC

Eric Bannasch’s Cadian Capital Management revealed its 5.22% passive stake in LTX-Credence Corp (LTXC) on December 21st. According the SEC filing, now Cadian Capital Management has 2.55 million shares in the stock, which is a 46% increase from its Q3 position of 1.74 million shares. Now LTXC is trading at $5.66, and has lost 24% year to date. LTX-Credence Corp There are other hedge fund managers who also took LTXC in the third quarter. Jim Simons’ Renaissance Technologies reported 1.20 million shares, after the firm decreased its position by 7%. Cliff Asness’ AQR Capital Management boosted its position by 3 times and had 987 thousand shares at the end of the third quarter. Eric Bannasch is a portfolio manager in Cadian Capital. He has a MBA degree in Stanford University Graduate School of Business and a Bachelor’s degree in Stanford University. Cadian Capital has a 13F portfolio of more than $2.4 billon. More than half of the firm’s capital is invested in Technology sector. According to Google Finance, LTX-Credence Corp “provides focused, automated test equipment (ATE) solutions. It designs, manufactures, markets and services ATE solutions that address the test requirements of the wireless, computing, automotive and consumer market segments. The company’s product portfolio consists of three segment focused, scalable platforms: Diamond Platform, X-Series Platform and ASL Platform. 
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