Advisors Asset Management Inc. Has $276,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Advisors Asset Management Inc. trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) by 44.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,837 shares of the software maker’s stock after selling 1,490 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cadence Design Systems were worth $276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $3,414,000. Machina Capital S.A.S. grew its position in shares of Cadence Design Systems by 58.5% during the 2nd quarter. Machina Capital S.A.S. now owns 2,565 shares of the software maker’s stock worth $385,000 after buying an additional 947 shares during the period. Factory Mutual Insurance Co. acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $2,325,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Cadence Design Systems by 10.0% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,750 shares of the software maker’s stock worth $512,000 after buying an additional 250 shares during the period. Finally, Quent Capital LLC grew its position in shares of Cadence Design Systems by 6.3% during the 2nd quarter. Quent Capital LLC now owns 1,879 shares of the software maker’s stock worth $282,000 after buying an additional 112 shares during the period. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 0.0 %

Shares of Cadence Design Systems stock opened at $165.02 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The stock has a market cap of $45.27 billion, a P/E ratio of 58.11, a P/E/G ratio of 2.73 and a beta of 1.07. Cadence Design Systems, Inc. has a 12-month low of $132.32 and a 12-month high of $194.97. The business’s 50 day moving average is $158.87 and its 200-day moving average is $161.01.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last issued its quarterly earnings data on Monday, October 24th. The software maker reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.10. The firm had revenue of $902.55 million for the quarter, compared to analyst estimates of $868.85 million. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. Equities research analysts predict that Cadence Design Systems, Inc. will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 250 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $168.39, for a total transaction of $42,097.50. Following the completion of the transaction, the vice president now directly owns 94,189 shares in the company, valued at $15,860,485.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cadence Design Systems news, VP Aneel Zaman sold 1,207 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $176.34, for a total value of $212,842.38. Following the completion of the sale, the vice president now owns 91,077 shares of the company’s stock, valued at $16,060,518.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $168.39, for a total value of $42,097.50. Following the completion of the sale, the vice president now directly owns 94,189 shares of the company’s stock, valued at approximately $15,860,485.71. The disclosure for this sale can be found here. Insiders sold a total of 201,889 shares of company stock worth $32,631,433 in the last ninety days. 1.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CDNS shares. Stifel Nicolaus restated a “hold” rating and set a $200.00 target price on shares of Cadence Design Systems in a research report on Wednesday, October 26th. Needham & Company LLC lifted their price objective on Cadence Design Systems from $193.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. Wolfe Research assumed coverage on Cadence Design Systems in a report on Tuesday, August 16th. They set an “outperform” rating and a $210.00 price objective on the stock. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cadence Design Systems in a report on Wednesday, September 28th. They set a “buy” rating and a $200.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.75.

Cadence Design Systems Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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