Lindenwold Advisors INC Trims Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Lindenwold Advisors INC reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,185 shares of the software maker’s stock after selling 132 shares during the quarter. Cadence Design Systems accounts for 1.0% of Lindenwold Advisors INC’s holdings, making the stock its 29th largest position. Lindenwold Advisors INC’s holdings in Cadence Design Systems were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Cadence Design Systems in the fourth quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. acquired a new position in Cadence Design Systems in the third quarter valued at approximately $28,000. Avalon Trust Co acquired a new position in Cadence Design Systems in the fourth quarter valued at approximately $39,000. Versant Capital Management Inc increased its position in shares of Cadence Design Systems by 164.2% in the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after buying an additional 87 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at approximately $46,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $304.84, for a total value of $198,146.00. Following the transaction, the vice president now owns 59,311 shares of the company’s stock, valued at $18,080,365.24. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anirudh Devgan sold 5,920 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the transaction, the chief executive officer now directly owns 55,874 shares in the company, valued at approximately $16,987,930.96. This trade represents a 9.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,021 shares of company stock valued at $31,229,155 in the last quarter. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 0.5 %

Shares of NASDAQ:CDNS opened at $253.88 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $280.50 and a two-hundred day moving average of $284.19. The stock has a market cap of $69.59 billion, a P/E ratio of 65.77, a PEG ratio of 3.88 and a beta of 1.05. Cadence Design Systems, Inc. has a 52-week low of $230.09 and a 52-week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. On average, research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CDNS shares. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Piper Sandler boosted their price objective on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Mizuho boosted their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird cut their price objective on Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Redburn Atlantic began coverage on Cadence Design Systems in a research report on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.92.

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.