Lindenwold Advisors INC Sells 3,831 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Lindenwold Advisors INC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,317 shares of the software maker’s stock after selling 3,831 shares during the period. Lindenwold Advisors INC’s holdings in Cadence Design Systems were worth $1,712,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Cadence Design Systems by 26.1% in the third quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock valued at $689,472,000 after buying an additional 572,251 shares in the last quarter. Legal & General Group Plc raised its holdings in Cadence Design Systems by 1.8% in the second quarter. Legal & General Group Plc now owns 2,509,136 shares of the software maker’s stock valued at $772,187,000 after acquiring an additional 43,654 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cadence Design Systems by 33.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker’s stock worth $547,886,000 after acquiring an additional 501,833 shares in the last quarter. Swedbank AB increased its position in shares of Cadence Design Systems by 15.1% during the third quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock worth $475,336,000 after purchasing an additional 230,672 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Cadence Design Systems by 20.9% in the third quarter. Impax Asset Management Group plc now owns 1,374,531 shares of the software maker’s stock valued at $371,719,000 after buying an additional 237,495 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Robert W. Baird lifted their target price on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Loop Capital began coverage on Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 price target on the stock. Berenberg Bank started coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $326.00.

Cadence Design Systems Trading Up 1.6 %

NASDAQ CDNS opened at $294.33 on Tuesday. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $275.32 and a 200-day moving average of $283.00. The company has a market cap of $80.72 billion, a PE ratio of 77.25, a PEG ratio of 3.93 and a beta of 1.02. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the transaction, the vice president now owns 61,111 shares in the company, valued at approximately $16,866,636. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares of the company’s stock, valued at $10,278,485.14. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,634 shares of company stock worth $4,217,635 in the last quarter. 1.99% of the stock is owned by insiders.

Cadence Design Systems 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.