Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Callan Capital LLC

Callan Capital LLC decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 991 shares of the software maker’s stock after selling 49 shares during the quarter. Callan Capital LLC’s holdings in Cadence Design Systems were worth $298,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CDNS. Swedbank AB boosted its stake in shares of Cadence Design Systems by 15.1% during the third quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock worth $475,336,000 after buying an additional 230,672 shares during the period. Private Advisor Group LLC boosted its stake in shares of Cadence Design Systems by 31.2% during the third quarter. Private Advisor Group LLC now owns 10,332 shares of the software maker’s stock worth $2,800,000 after buying an additional 2,457 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Cadence Design Systems by 17.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 7,743 shares of the software maker’s stock worth $2,099,000 after buying an additional 1,134 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Cadence Design Systems during the third quarter worth about $174,000. Finally, Dakota Wealth Management boosted its stake in shares of Cadence Design Systems by 1.8% during the third quarter. Dakota Wealth Management now owns 2,644 shares of the software maker’s stock worth $717,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 4.4 %

Shares of Cadence Design Systems stock opened at $258.27 on Friday. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The stock has a market cap of $70.83 billion, a PE ratio of 66.91, a price-to-earnings-growth ratio of 3.88 and a beta of 1.03. The company has a 50-day moving average of $300.54 and a two-hundred day moving average of $287.22.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDNS. Needham & Company LLC restated a “buy” rating and issued a $325.00 price objective on shares of Cadence Design Systems in a research report on Wednesday. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $280.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday. Redburn Atlantic began 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. Loop Capital reduced their price objective on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Robert W. Baird reduced their price objective on shares of Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.92.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the completion of the transaction, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 4,224 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $309.03, for a total transaction of $1,305,342.72. Following the transaction, the chief financial officer now directly owns 29,248 shares of the company’s stock, valued at approximately $9,038,509.44. This trade represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,538,875 in the last ninety days. Corporate insiders own 1.99% of the company’s stock.

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.