3,227 Cadence Design Systems, Inc. $CDNS Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,393 shares of the software maker’s stock after selling 3,227 shares during the quarter. Cadence Design Systems accounts for 0.9% of Trillium Asset Management LLC’s portfolio, making the stock its 27th largest position. Trillium Asset Management LLC’s holdings in Cadence Design Systems were worth $28,196,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CDNS. Avalon Trust Co acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at approximately $30,000. Burkett Financial Services LLC acquired a new stake in shares of Cadence Design Systems during the third quarter worth approximately $30,000. Fiduciary Financial Advisors acquired a new stake in shares of Cadence Design Systems during the second quarter worth approximately $31,000. Balance Wealth Partners LLC bought a new stake in shares of Cadence Design Systems in the third quarter worth $32,000. Finally, Arlington Trust Co LLC increased its stake in shares of Cadence Design Systems by 154.3% in the second quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock worth $33,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CDNS shares. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $420.00 target price on shares of Cadence Design Systems in a research report on Friday, October 23rd. Robert W. Baird upped their target price on shares of Cadence Design Systems from $420.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. Finally, Bank of America increased their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $410.05.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 2,401 shares of Cadence Design Systems stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $339.00, for a total value of $813,939.00. Following the completion of the transaction, the vice president directly owned 27,763 shares of the company’s stock, valued at approximately $9,411,657. The trade was a 7.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total transaction of $401,100.00. Following the sale, the director directly owned 40,794 shares of the company’s stock, valued at approximately $13,089,978.72. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,736 shares of company stock worth $3,772,365. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded down $10.31 during trading on Friday, reaching $323.01. The stock had a trading volume of 1,547,128 shares, compared to its average volume of 2,454,347. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.18 and a current ratio of 1.36. The stock has a market cap of $88.63 billion, a PE ratio of 64.22, a P/E/G ratio of 3.16 and a beta of 1.10. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm’s 50 day moving average price is $320.83 and its two-hundred day moving average price is $327.76.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 26th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Cadence Design Systems had a return on equity of 26.56% and a net margin of 22.51%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. On average, research analysts forecast that Cadence Design Systems, Inc. will post 6.71 earnings per share for the current fiscal year.

About Cadence Design Systems

Cadence Design Systems, Inc. develops software, hardware and intellectual property used to design and verify semiconductors and electronic systems. Its electronic design automation (EDA) tools help customers plan, build, test and analyze complex chips and circuit boards. The company also offers semiconductor intellectual property and hardware platforms for design prototyping and verification, as well as software for system analysis, including computational fluid dynamics and electromagnetic simulation.