Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Sivia Capital Partners LLC

by · The Cerbat Gem

Sivia Capital Partners LLC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 5.3% in the 3rd quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in Cadence Design Systems in the first quarter valued at $26,000. ORG Partners LLC boosted its holdings in Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Annapolis Financial Services LLC bought a new stake in shares of Cadence Design Systems in the 1st quarter valued at about $32,000. Hollencrest Capital Management increased its position in shares of Cadence Design Systems by 637.5% during the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after acquiring an additional 102 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in Cadence Design Systems in the first quarter valued at $45,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDNS. Oppenheimer started coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Robert W. Baird cut their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.60.

Check Out Our Latest Stock Analysis on CDNS

Insider Activity

In other news, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at $10,278,485.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total transaction of $177,736.00. Following the transaction, the vice president now owns 61,761 shares in the company, valued at approximately $16,887,927.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,847 shares of company stock valued at $7,302,782 in the last quarter. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 0.0 %

Shares of NASDAQ CDNS traded down $0.11 during mid-day trading on Monday, reaching $282.28. The company had a trading volume of 455,214 shares, compared to its average volume of 1,696,405. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The stock has a market capitalization of $76.90 billion, a PE ratio of 73.49, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a twelve month low of $228.66 and a twelve month high of $328.99. The stock’s 50 day moving average is $268.79 and its 200-day moving average is $286.02.

Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Cadence Design Systems Profile

(Free Report)

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.

Further Reading

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