Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Position Lowered by Nwam LLC

Nwam LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 47.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,183 shares of the software maker’s stock after selling 3,840 shares during the quarter. Nwam LLC’s holdings in Cadence Design Systems were worth $1,257,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Missouri Trust & Investment Co acquired a new stake in Cadence Design Systems in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth approximately $28,000. Golden State Wealth Management LLC acquired a new stake in Cadence Design Systems during the fourth quarter valued at approximately $28,000. Versant Capital Management Inc boosted its holdings in Cadence Design Systems by 164.2% during the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after buying an additional 87 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in Cadence Design Systems by 56.6% in the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after buying an additional 60 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Cadence Design Systems from $280.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird decreased their price target on Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Mizuho boosted their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company assumed coverage on shares of Cadence Design Systems in a research note on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective for the company. Finally, StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.92.

Cadence Design Systems Stock Down 2.1 %

CDNS stock opened at $248.64 on Friday. The company has a 50 day moving average of $296.12 and a two-hundred day moving average of $286.72. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a market cap of $68.15 billion, a price-to-earnings ratio of 64.41, a PEG ratio of 3.88 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the transaction, the chief executive officer now owns 55,874 shares in the company, valued at approximately $16,987,930.96. This trade represents a 9.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 4,224 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $309.03, for a total transaction of $1,305,342.72. Following the completion of the sale, the chief financial officer now owns 29,248 shares of the company’s stock, valued at $9,038,509.44. This represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock worth $33,538,875 in the last three months. 1.99% of the stock is owned by insiders.

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.