Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Lindenwold Advisors INC

Lindenwold Advisors INC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,185 shares of the software maker’s stock after selling 132 shares during the period. Cadence Design Systems accounts for about 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 SEC filing.

Several other hedge funds have also recently bought and sold shares of CDNS. Avior Wealth Management LLC increased its holdings in Cadence Design Systems by 12.4% during the 4th quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock worth $98,000 after purchasing an additional 36 shares during the period. Lindbrook Capital LLC increased its holdings in Cadence Design Systems by 1.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker’s stock worth $670,000 after purchasing an additional 38 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Cadence Design Systems by 0.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after purchasing an additional 40 shares during the period. Empower Advisory Group LLC increased its holdings in Cadence Design Systems by 4.9% during the 4th quarter. Empower Advisory Group LLC now owns 875 shares of the software maker’s stock worth $263,000 after purchasing an additional 41 shares during the period. Finally, Marcum Wealth LLC increased its holdings in shares of Cadence Design Systems by 4.1% in the 4th quarter. Marcum Wealth LLC now owns 1,123 shares of the software maker’s stock valued at $337,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 0.5 %

NASDAQ:CDNS opened at $253.88 on Wednesday. The stock’s 50 day moving average price is $280.50 and its 200 day moving average price is $284.19. The company has a market capitalization of $69.59 billion, a PE ratio of 65.77, a P/E/G ratio of 3.88 and a beta of 1.05. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. 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 posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CDNS shares. Mizuho increased their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, December 13th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America dropped their price objective on Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Robert W. Baird dropped their price objective on Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, Piper Sandler increased their price objective on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $326.92.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $292.32, for a total transaction of $190,008.00. Following the completion of the sale, the vice president now directly owns 58,773 shares of the company’s stock, valued at approximately $17,180,523.36. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the sale, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $17,320,940. The trade was a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,021 shares of company stock valued at $31,229,155. 1.99% of the stock is owned by company insiders.

About Cadence Design Systems

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.