Linden Thomas Advisory Services LLC Purchases 452 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Linden Thomas Advisory Services LLC grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,105 shares of the software maker’s stock after buying an additional 452 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Cadence Design Systems were worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of Cadence Design Systems by 8.7% in the 3rd quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker’s stock worth $1,651,166,000 after purchasing an additional 564,085 shares during the period. Northern Trust Corp raised its holdings in Cadence Design Systems by 5.6% during the 3rd quarter. Northern Trust Corp now owns 2,995,849 shares of the software maker’s stock valued at $701,927,000 after acquiring an additional 158,031 shares during the period. Invesco Ltd. raised its holdings in Cadence Design Systems by 4.9% during the 3rd quarter. Invesco Ltd. now owns 2,012,292 shares of the software maker’s stock valued at $471,480,000 after acquiring an additional 93,984 shares during the period. Nordea Investment Management AB raised its holdings in Cadence Design Systems by 124.8% during the 4th quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock valued at $515,995,000 after acquiring an additional 1,052,228 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Cadence Design Systems by 143.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker’s stock valued at $383,062,000 after acquiring an additional 962,987 shares during the period. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDNS. KeyCorp boosted their target price on shares of Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a report on Friday. Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Monday. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley raised shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $260.00 to $350.00 in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.50.

Cadence Design Systems Stock Down 0.6 %

Cadence Design Systems stock traded down $1.71 during trading on Tuesday, reaching $283.31. The stock had a trading volume of 3,502,778 shares, compared to its average volume of 1,539,658. Cadence Design Systems, Inc. has a 52-week low of $194.01 and a 52-week high of $327.36. The business has a 50 day moving average price of $305.09 and a 200 day moving average price of $280.73. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The stock has a market cap of $77.13 billion, a PE ratio of 74.61, a P/E/G ratio of 3.41 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $1.02 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Cadence Design Systems, Inc. will post 4.81 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Thomas P. Beckley sold 65,268 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $296.98, for a total value of $19,383,290.64. Following the transaction, the vice president now directly owns 156,156 shares in the company, valued at approximately $46,375,208.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 4,500 shares of Cadence Design Systems stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $300.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now owns 54,683 shares in the company, valued at $16,404,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the transaction, the vice president now directly owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The disclosure for this sale can be found here. Insiders have sold 177,544 shares of company stock worth $53,581,207 in the last three months. Corporate insiders own 0.62% of the company’s stock.

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.