Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by True Vision MN LLC

True Vision MN LLC cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 831 shares of the software maker’s stock after selling 55 shares during the period. True Vision MN LLC’s holdings in Cadence Design Systems were worth $225,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital Market Strategies LLC boosted its stake in Cadence Design Systems by 3.1% in the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after acquiring an additional 39 shares during the period. Dudley Capital Management LLC boosted its position in Cadence Design Systems by 4.3% during the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock valued at $257,000 after purchasing an additional 39 shares during the period. Trust Point Inc. boosted its position in Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after purchasing an additional 40 shares during the period. Falcon Wealth Planning increased its position in Cadence Design Systems by 5.1% in the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after buying an additional 40 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Cadence Design Systems by 0.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock valued at $1,501,000 after buying an additional 40 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, SVP Karna Nisewaner sold 659 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total value of $181,870.82. Following the completion of the transaction, the senior vice president now owns 16,029 shares of the company’s stock, valued at approximately $4,423,683.42. This trade represents a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total transaction of $173,478.50. Following the sale, the vice president now directly owns 64,544 shares in the company, valued at approximately $17,226,148.16. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,634 shares of company stock valued at $1,558,535. 0.62% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

CDNS stock traded down $3.03 on Wednesday, hitting $307.07. 40,279 shares of the company’s stock traded hands, compared to its average volume of 1,758,178. The stock has a market cap of $84.22 billion, a price-to-earnings ratio of 81.39, a P/E/G ratio of 4.24 and a beta of 1.02. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. 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 fifty day moving average of $280.07 and a 200-day moving average of $283.98.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data 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 business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. On average, analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CDNS shares. Loop Capital began coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. Oppenheimer initiated coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target for the company. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Berenberg Bank started coverage on shares of Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.00.

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.