Cadence Design Systems, Inc. (NASDAQ:CDNS) Stake Raised by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,105 shares of the software maker’s stock after acquiring an additional 452 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Cadence Design Systems were worth $2,208,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its stake in shares of Cadence Design Systems by 8.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock worth $140,000 after purchasing an additional 38 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Cadence Design Systems by 5.8% during the 4th quarter. California Public Employees Retirement System now owns 938,292 shares of the software maker’s stock worth $255,563,000 after purchasing an additional 51,232 shares in the last quarter. RWA Wealth Partners LLC purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth about $548,000. Duality Advisers LP acquired a new position in shares of Cadence Design Systems during the 4th quarter valued at about $1,964,000. Finally, Capital Investment Advisory Services LLC increased its holdings in shares of Cadence Design Systems by 9.6% during the 4th quarter. Capital Investment Advisory Services LLC now owns 1,260 shares of the software maker’s stock valued at $343,000 after acquiring an additional 110 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. KeyCorp raised their target price on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a report on Friday. Morgan Stanley raised Cadence Design Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $260.00 to $350.00 in a report on Wednesday, February 14th. Finally, Stifel Nicolaus lifted their price objective on Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $316.50.

Insider Buying and Selling

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $310.46, for a total value of $186,276.00. Following the completion of the transaction, the senior vice president now directly owns 21,080 shares of the company’s stock, valued at $6,544,496.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.83, for a total value of $463,245.00. Following the sale, the director now directly owns 50,183 shares in the company, valued at $15,498,015.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $186,276.00. Following the completion of the sale, the senior vice president now owns 21,080 shares in the company, valued at $6,544,496.80. The disclosure for this sale can be found here. Insiders sold a total of 177,544 shares of company stock valued at $53,581,207 over the last three months. Company insiders own 0.62% of the company’s stock.

Cadence Design Systems Trading Down 0.6 %

Shares of CDNS stock traded down $1.71 on Tuesday, reaching $283.31. 3,502,778 shares of the stock were exchanged, compared to its average volume of 1,539,658. The stock has a market cap of $77.13 billion, a PE ratio of 74.61, a P/E/G ratio of 3.41 and a beta of 1.04. Cadence Design Systems, Inc. has a one year low of $194.01 and a one year high of $327.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.13. The stock has a 50 day moving average price of $305.09 and a 200 day moving average price of $280.73.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 earnings per share. Equities research analysts forecast that Cadence Design Systems, Inc. will post 4.81 EPS for the current fiscal year.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.