844 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Bought by Advisory Alpha LLC

Advisory Alpha LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, Holdings Channel.com reports. The firm bought 844 shares of the software maker’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNS. Public Sector Pension Investment Board raised its stake in Cadence Design Systems by 72.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 10,398 shares of the software maker’s stock worth $3,200,000 after acquiring an additional 4,366 shares during the last quarter. Insigneo Advisory Services LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $518,000. Alpha DNA Investment Management LLC grew its holdings in Cadence Design Systems by 29.1% during the second quarter. Alpha DNA Investment Management LLC now owns 1,535 shares of the software maker’s stock worth $472,000 after acquiring an additional 346 shares during the period. APG Asset Management US Inc. raised its position in Cadence Design Systems by 2.2% during the second quarter. APG Asset Management US Inc. now owns 84,992 shares of the software maker’s stock valued at $26,426,000 after acquiring an additional 1,806 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Cadence Design Systems by 61.7% in the second quarter. APG Asset Management N.V. now owns 337,358 shares of the software maker’s stock valued at $96,871,000 after acquiring an additional 128,769 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 4,224 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total value of $1,305,342.72. Following the completion of the sale, the chief financial officer now owns 29,248 shares in the company, valued at approximately $9,038,509.44. This represents a 12.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the sale, the chief executive officer now owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,416 shares of company stock worth $33,528,267. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Up 0.9 %

CDNS opened at $324.52 on Friday. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $305.09 and a 200 day moving average price of $285.05. The company has a market cap of $89.00 billion, a PE ratio of 85.18, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CDNS shares. 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. Wells Fargo & Company initiated coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Redburn Atlantic initiated coverage on shares of 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. Finally, Loop Capital initiated coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $329.50.

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.