David J Yvars Group Sells 588 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

David J Yvars Group lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,103 shares of the software maker’s stock after selling 588 shares during the period. Cadence Design Systems comprises about 2.0% of David J Yvars Group’s portfolio, making the stock its 16th biggest position. David J Yvars Group’s holdings in Cadence Design Systems were worth $3,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marcum Wealth LLC raised its stake in Cadence Design Systems by 4.1% during the fourth quarter. Marcum Wealth LLC now owns 1,123 shares of the software maker’s stock worth $337,000 after buying an additional 44 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in Cadence Design Systems by 22.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 6,824 shares of the software maker’s stock worth $2,050,000 after acquiring an additional 1,229 shares during the period. Cooper Financial Group raised its position in shares of Cadence Design Systems by 13.2% in the 4th quarter. Cooper Financial Group now owns 3,530 shares of the software maker’s stock worth $1,061,000 after acquiring an additional 413 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Cadence Design Systems by 0.8% in the 4th quarter. Wedmont Private Capital now owns 8,486 shares of the software maker’s stock valued at $2,537,000 after purchasing an additional 68 shares during the period. Finally, Talbot Financial LLC bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $300,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $304.84, for a total value of $198,146.00. Following the sale, the vice president now owns 59,311 shares of the company’s stock, valued at approximately $18,080,365.24. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anirudh Devgan sold 5,920 shares of the company’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 value of $1,799,916.80. Following the completion of the transaction, the chief executive officer now owns 55,874 shares in the company, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock worth $33,528,267 in the last quarter. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

CDNS opened at $292.50 on Tuesday. The firm’s fifty day moving average price is $304.26 and its two-hundred day moving average price is $285.30. The company has a market capitalization of $80.22 billion, a price-to-earnings ratio of 76.77, a P/E/G ratio of 4.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

CDNS has been the subject of several recent analyst reports. Needham & Company LLC reduced their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective on the stock. Mizuho raised their target price on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company initiated coverage on Cadence Design Systems in a research note on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $329.50.

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.