Sivia Capital Partners LLC Decreases Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Sivia Capital Partners LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,055 shares of the software maker’s stock after selling 59 shares during the period. Sivia Capital Partners LLC’s holdings in Cadence Design Systems were worth $286,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CDNS. Procyon Advisors LLC lifted its holdings in shares of Cadence Design Systems by 3.6% in the 3rd quarter. Procyon Advisors LLC now owns 1,655 shares of the software maker’s stock valued at $449,000 after acquiring an additional 58 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Cadence Design Systems by 52.8% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 472 shares of the software maker’s stock valued at $128,000 after buying an additional 163 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Cadence Design Systems by 3.9% in the third quarter. Redhawk Wealth Advisors Inc. now owns 11,056 shares of the software maker’s stock valued at $2,997,000 after purchasing an additional 413 shares during the period. CVA Family Office LLC grew its holdings in shares of Cadence Design Systems by 27.0% during the third quarter. CVA Family Office LLC now owns 376 shares of the software maker’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its stake in Cadence Design Systems by 22.1% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,407 shares of the software maker’s stock valued at $381,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

CDNS traded down $0.11 during trading hours on Monday, hitting $282.28. The company’s stock had a trading volume of 455,214 shares, compared to its average volume of 1,696,405. The company has a 50-day simple moving average of $268.79 and a 200 day simple moving average of $286.02. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $76.90 billion, a PE ratio of 73.49, a PEG ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $228.66 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CDNS. Oppenheimer started coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target for the company. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a report on Tuesday, August 6th. Robert W. Baird dropped their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. Finally, KeyCorp increased their price objective on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.60.

Insiders Place Their Bets

In related news, SVP Karna Nisewaner sold 1,213 shares of Cadence Design Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $279.49, for a total value of $339,021.37. Following the transaction, the senior vice president now directly owns 17,617 shares of the company’s stock, valued at $4,923,775.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $273.44, for a total value of $177,736.00. Following the sale, the vice president now directly owns 61,761 shares in the company, valued at $16,887,927.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Karna Nisewaner sold 1,213 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $279.49, for a total transaction of $339,021.37. Following the sale, the senior vice president now directly owns 17,617 shares of the company’s stock, valued at $4,923,775.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,847 shares of company stock worth $7,302,782. Corporate insiders own 1.99% of the company’s stock.

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.