Emerald Advisers LLC Reduces Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Emerald Advisers LLC reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 56.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,517 shares of the software maker's stock after selling 2,003 shares during the quarter. Emerald Advisers LLC's holdings in Cadence Design Systems were worth $456,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Cadence Design Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,909,187 shares of the software maker's stock worth $7,784,674,000 after buying an additional 201,340 shares during the period. Stevens Capital Management LP purchased a new position in Cadence Design Systems in the 4th quarter worth $221,000. LPL Financial LLC lifted its position in Cadence Design Systems by 5.1% during the 4th quarter. LPL Financial LLC now owns 326,194 shares of the software maker's stock worth $98,008,000 after acquiring an additional 15,886 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Cadence Design Systems during the 4th quarter valued at about $29,295,000. Finally, American Century Companies Inc. increased its holdings in shares of Cadence Design Systems by 6.2% in the fourth quarter. American Century Companies Inc. now owns 1,266,074 shares of the software maker's stock valued at $380,405,000 after purchasing an additional 73,375 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the sale, the vice president now owns 58,773 shares in the company, valued at approximately $17,180,523.36. This represents a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anirudh Devgan sold 93,151 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the transaction, the chief executive officer now owns 55,874 shares in the company, valued at approximately $17,320,940. This represents a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,021 shares of company stock worth $31,229,155 over the last quarter. 1.99% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Mizuho upped their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Loop Capital cut their price objective on shares of 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. Oppenheimer reduced their price target on 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. Finally, Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $324.83.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded down $1.80 during trading on Thursday, reaching $261.61. The company had a trading volume of 621,336 shares, compared to its average volume of 1,805,010. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The firm's 50-day simple moving average is $276.25 and its 200 day simple moving average is $284.31. The firm has a market capitalization of $71.71 billion, a PE ratio of 67.73, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05. Cadence Design Systems, Inc. has a 1-year low of $230.09 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.33). The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.