Capital Impact Advisors LLC Sells 185 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Capital Impact Advisors LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Rating) by 12.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,339 shares of the software maker’s stock after selling 185 shares during the quarter. Capital Impact Advisors LLC’s holdings in Cadence Design Systems were worth $219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CDNS. LPL Financial LLC increased its position in Cadence Design Systems by 8.3% during the 2nd quarter. LPL Financial LLC now owns 99,299 shares of the software maker’s stock valued at $14,898,000 after purchasing an additional 7,627 shares during the period. Verition Fund Management LLC lifted its position in Cadence Design Systems by 6,918.8% during the second quarter. Verition Fund Management LLC now owns 38,463 shares of the software maker’s stock valued at $5,771,000 after acquiring an additional 37,915 shares during the last quarter. Lido Advisors LLC grew its holdings in Cadence Design Systems by 211.4% in the third quarter. Lido Advisors LLC now owns 4,347 shares of the software maker’s stock worth $710,000 after purchasing an additional 2,951 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in Cadence Design Systems by 0.4% in the third quarter. Gulf International Bank UK Ltd now owns 42,457 shares of the software maker’s stock worth $6,938,000 after purchasing an additional 179 shares during the last quarter. Finally, Janiczek Wealth Management LLC increased its position in shares of Cadence Design Systems by 32.0% during the third quarter. Janiczek Wealth Management LLC now owns 1,953 shares of the software maker’s stock worth $302,000 after purchasing an additional 474 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CDNS shares. Deutsche Bank Aktiengesellschaft boosted their target price on Cadence Design Systems from $200.00 to $222.00 and gave the stock a “buy” rating in a research note on Wednesday, February 15th. Needham & Company LLC upped their price objective on shares of Cadence Design Systems from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. KeyCorp boosted their target price on shares of Cadence Design Systems from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 14th. Finally, Bank of America lifted their price objective on shares of Cadence Design Systems from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $211.55.

Cadence Design Systems Stock Down 0.3 %

Shares of NASDAQ CDNS opened at $202.94 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $185.89 and a 200 day moving average of $170.41. Cadence Design Systems, Inc. has a 12-month low of $132.32 and a 12-month high of $203.94. The stock has a market cap of $55.39 billion, a PE ratio of 65.68, a P/E/G ratio of 2.58 and a beta of 1.07.

Cadence Design Systems (NASDAQ:CDNS – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The software maker reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $899.88 million during the quarter, compared to analysts’ expectations of $884.23 million. Cadence Design Systems had a return on equity of 33.89% and a net margin of 23.83%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 3.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 250 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $157.56, for a total value of $39,390.00. Following the completion of the transaction, the vice president now owns 93,189 shares in the company, valued at $14,682,858.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Lip Bu Tan sold 42,500 shares of Cadence Design Systems stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $173.39, for a total transaction of $7,369,075.00. Following the sale, the insider now directly owns 602,589 shares in the company, valued at approximately $104,482,906.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 250 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $157.56, for a total value of $39,390.00. Following the transaction, the vice president now directly owns 93,189 shares in the company, valued at approximately $14,682,858.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,376 shares of company stock valued at $45,293,036. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Company Profile

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Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: United States, Other Americas, China, Other Asia, Europe, Middle East and Africa and Japan.