Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,020 shares of the software maker’s stock after selling 80 shares during the period. Tiemann Investment Advisors LLC’s holdings in Cadence Design Systems were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its position in shares of Cadence Design Systems by 12.4% during the fourth quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock worth $98,000 after purchasing an additional 36 shares in the last quarter. Lindbrook Capital LLC increased its stake in Cadence Design Systems by 1.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker’s stock worth $670,000 after buying an additional 38 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in Cadence Design Systems by 0.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after buying an additional 40 shares in the last quarter. Paragon Advisors LLC boosted its position in Cadence Design Systems by 0.6% in the 3rd quarter. Paragon Advisors LLC now owns 6,465 shares of the software maker’s stock valued at $1,752,000 after buying an additional 41 shares during the last quarter. Finally, Empower Advisory Group LLC grew its stake in shares of Cadence Design Systems by 4.9% during the fourth quarter. Empower Advisory Group LLC now owns 875 shares of the software maker’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $243.21 on Monday. Cadence Design Systems, Inc. has a fifty-two week low of $233.72 and a fifty-two week high of $328.99. The stock’s 50-day moving average is $288.68 and its two-hundred day moving average is $285.45. The firm has a market cap of $66.67 billion, a P/E ratio of 63.01, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS) last posted 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 the consensus estimate of $1.35 billion. On average, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Loop Capital cut their price target on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Redburn Atlantic initiated coverage on Cadence Design Systems in a research report on Monday, January 13th. They issued a “buy” rating and a $350.00 target price on the stock. Mizuho raised their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Robert W. Baird decreased their price objective on shares of Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.92.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the sale, the vice president now directly owns 58,123 shares in the company, valued at $14,689,425.79. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anirudh Devgan sold 93,151 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the transaction, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $17,320,940. This represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock valued at $33,504,126 in the last 90 days. 1.99% of the stock is currently owned by insiders.

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.