Linden Thomas Advisory Services LLC Purchases 820 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Linden Thomas Advisory Services LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,493 shares of the software maker's stock after acquiring an additional 820 shares during the period. Linden Thomas Advisory Services LLC's holdings in Cadence Design Systems were worth $3,940,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after buying an additional 676 shares during the last quarter. Highview Capital Management LLC DE boosted its position in Cadence Design Systems by 2.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock valued at $1,894,000 after buying an additional 163 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Cadence Design Systems in the 4th quarter valued at $431,000. OFI Invest Asset Management acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at $46,000. Finally, Independent Advisor Alliance raised its stake in Cadence Design Systems by 119.7% during the 4th quarter. Independent Advisor Alliance now owns 3,660 shares of the software maker's stock worth $1,100,000 after buying an additional 1,994 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of research reports. Mizuho increased their target price on Cadence Design Systems from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Needham & Company LLC reiterated a "buy" rating and set a $325.00 target price on shares of Cadence Design Systems in a report on Tuesday, May 13th. Oppenheimer lowered their target price on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a report on Wednesday, March 19th. Robert W. Baird increased their target price on Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upgraded Cadence Design Systems from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $300.00 to $325.00 in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $327.93.

Cadence Design Systems Price Performance

CDNS traded down $2.06 during trading on Friday, hitting $320.60. 1,201,465 shares of the stock traded hands, compared to its average volume of 2,033,621. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $330.09. The company has a market cap of $87.54 billion, a price-to-earnings ratio of 81.16, a PEG ratio of 4.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 2.90. The business has a 50 day moving average price of $307.58 and a 200 day moving average price of $287.48.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.50 by $0.07. Cadence Design Systems had a net margin of 22.18% and a return on equity of 29.36%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The company's revenue was up 23.1% on a year-over-year basis. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the transaction, the director directly owned 8,010 shares in the company, valued at approximately $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Plummer sold 868 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $319.95, for a total transaction of $277,716.60. Following the transaction, the director owned 23,996 shares of the company's stock, valued at $7,677,520.20. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,975 shares of company stock valued at $6,114,587. 1.99% of the stock is currently owned by insiders.

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.