Strategic Investment Advisors MI Sells 3,514 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Strategic Investment Advisors MI lowered its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNSFree Report) by 29.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,479 shares of the software maker’s stock after selling 3,514 shares during the period. Strategic Investment Advisors MI’s holdings in Cadence Design Systems were worth $2,309,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CDNS. OFI Invest Asset Management purchased a new stake in Cadence Design Systems in the third quarter worth $26,000. VisionPoint Advisory Group LLC bought a new stake in Cadence Design Systems in the 2nd quarter valued at about $27,000. Atlas Capital Advisors LLC boosted its position in Cadence Design Systems by 322.6% during the second quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker’s stock worth $31,000 after purchasing an additional 100 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Cadence Design Systems by 108.3% in the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $39,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 11,500 shares of Cadence Design Systems stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $267.67, for a total value of $3,078,205.00. Following the transaction, the director now directly owns 59,183 shares of the company’s stock, valued at approximately $15,841,513.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 11,500 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $267.67, for a total value of $3,078,205.00. Following the sale, the director now owns 59,183 shares of the company’s stock, valued at approximately $15,841,513.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John M. Wall sold 36,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $277.46, for a total value of $9,988,560.00. Following the transaction, the chief financial officer now owns 80,594 shares in the company, valued at approximately $22,361,611.24. The disclosure for this sale can be found here. Insiders sold a total of 130,207 shares of company stock worth $37,537,842 over the last three months. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Cadence Design Systems from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. StockNews.com raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. KeyCorp lifted their target price on Cadence Design Systems from $325.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Rosenblatt Securities downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and increased their price target for the stock from $265.00 to $280.00 in a report on Tuesday, February 13th. Finally, Stifel Nicolaus boosted their price objective on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $311.33.

Read Our Latest Report on CDNS

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $298.44 on Monday. Cadence Design Systems, Inc. has a fifty-two week low of $194.01 and a fifty-two week high of $320.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24. The stock has a market cap of $81.25 billion, a P/E ratio of 78.13, a price-to-earnings-growth ratio of 3.73 and a beta of 1.04. The firm’s fifty day moving average price is $294.86 and its 200-day moving average price is $267.93.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last announced its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating the consensus estimate of $1.33 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

Cadence Design Systems Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNSFree Report).

Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.