Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,326 shares of the software maker’s stock after selling 281 shares during the quarter. Integrated Advisors Network LLC’s holdings in Cadence Design Systems were worth $359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CDNS. Empowered Funds LLC increased its position in Cadence Design Systems by 223.8% during the 1st quarter. Empowered Funds LLC now owns 9,181 shares of the software maker’s stock worth $2,858,000 after purchasing an additional 6,346 shares in the last quarter. Park National Corp OH increased its position in Cadence Design Systems by 19.8% during the 2nd quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock worth $41,931,000 after purchasing an additional 22,537 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its position in Cadence Design Systems by 83.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 4,505 shares of the software maker’s stock worth $1,402,000 after purchasing an additional 2,048 shares in the last quarter. SG Americas Securities LLC increased its position in Cadence Design Systems by 88.4% during the 2nd quarter. SG Americas Securities LLC now owns 54,022 shares of the software maker’s stock worth $16,625,000 after purchasing an additional 25,347 shares in the last quarter. Finally, Teamwork Financial Advisors LLC grew its holdings in Cadence Design Systems by 19.4% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock valued at $3,559,000 after buying an additional 2,136 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CDNS shares. Robert W. Baird lifted their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC lowered their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a report on Tuesday, August 6th. Oppenheimer started coverage on Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target for the company. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $323.17.

Cadence Design Systems Stock Up 2.2 %

Shares of NASDAQ:CDNS opened at $282.09 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 2.45. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The stock has a market capitalization of $77.24 billion, a P/E ratio of 74.04, a PEG ratio of 3.55 and a beta of 1.02. The stock has a 50-day simple moving average of $267.18 and a 200-day simple moving average of $281.86.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.44 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. Cadence Design Systems’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the transaction, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at $10,278,485.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the completion of the transaction, the director now directly owns 45,051 shares in the company, valued at $12,444,888.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,697 shares of company stock valued at $7,555,216 in the last three months. Corporate insiders own 1.99% of the company’s stock.

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.