Green Alpha Advisors LLC Sells 294 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Green Alpha Advisors LLC lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,032 shares of the software maker’s stock after selling 294 shares during the period. Green Alpha Advisors LLC’s holdings in Cadence Design Systems were worth $911,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CDNS. Paragon Advisors LLC increased its stake in Cadence Design Systems by 5.3% in the 4th quarter. Paragon Advisors LLC now owns 6,810 shares of the software maker’s stock worth $2,046,000 after acquiring an additional 345 shares during the last quarter. Czech National Bank grew its holdings in shares of Cadence Design Systems by 6.6% during the fourth quarter. Czech National Bank now owns 59,466 shares of the software maker’s stock worth $17,867,000 after purchasing an additional 3,686 shares in the last quarter. Graypoint LLC increased its position in shares of Cadence Design Systems by 7.9% in the fourth quarter. Graypoint LLC now owns 2,090 shares of the software maker’s stock worth $628,000 after purchasing an additional 153 shares during the last quarter. HBW Advisory Services LLC raised its stake in Cadence Design Systems by 22.5% in the fourth quarter. HBW Advisory Services LLC now owns 2,203 shares of the software maker’s stock valued at $662,000 after purchasing an additional 404 shares in the last quarter. Finally, LVM Capital Management Ltd. MI bought a new stake in Cadence Design Systems during the fourth quarter valued at approximately $281,000. Institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the transaction, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. This trade represents a 3.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anirudh Devgan sold 93,151 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $310.00, for a total value of $28,876,810.00. Following the transaction, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. This trade represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,916 shares of company stock valued at $33,953,757. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 1.2 %

Shares of CDNS opened at $299.00 on Monday. The firm has a fifty day simple moving average of $304.20 and a two-hundred day simple moving average of $285.41. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The stock has a market capitalization of $82.00 billion, a P/E ratio of 78.48, a PEG ratio of 4.16 and a beta of 1.04. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $1.01 EPS. Cadence Design Systems’s revenue was up 18.8% compared to the same quarter last year. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDNS. Mizuho raised their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Needham & Company LLC cut their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective on the stock. Finally, Berenberg Bank initiated coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.92.

About Cadence Design Systems

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.