Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,493 shares of the software maker's stock after purchasing an additional 820 shares during the quarter. Linden Thomas Advisory Services LLC's holdings in Cadence Design Systems were worth $3,940,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $25,000. Valley National Advisers Inc. raised its stake in shares of Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares in the last quarter. Avalon Trust Co bought a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $39,000. Finally, OFI Invest Asset Management bought a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $46,000. Institutional investors own 84.85% of the company's stock.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $306.35, for a total value of $306,350.00. Following the sale, the vice president directly owned 105,499 shares in the company, valued at $32,319,618.65. The trade was a 0.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James D. Plummer sold 868 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $319.95, for a total transaction of $277,716.60. Following the completion of the transaction, the director owned 23,996 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 19,975 shares of company stock worth $6,114,587. 0.37% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $0.37 during trading on Wednesday, reaching $322.91. The company's stock had a trading volume of 1,092,043 shares, compared to its average volume of 2,031,148. The company has a 50-day moving average price of $306.62 and a two-hundred day moving average price of $287.10. The firm has a market cap of $88.17 billion, a PE ratio of 81.75, a P/E/G ratio of 4.44 and a beta of 0.99. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $330.09. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CDNS shares. Mizuho upped their price target on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and set a $325.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, May 13th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and increased their target price for the company from $300.00 to $325.00 in a research report on Thursday, April 24th. Finally, Oppenheimer cut their price objective on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average target price of $325.23.

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.