Los Angeles Capital Management LLC Sells 16,312 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Los Angeles Capital Management LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 84.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,903 shares of the software maker's stock after selling 16,312 shares during the quarter. Los Angeles Capital Management LLC's holdings in Cadence Design Systems were worth $787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC boosted its stake in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker's stock valued at $28,000 after buying an additional 82 shares during the period. Chilton Capital Management LLC raised its stake in Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker's stock valued at $53,000 after purchasing an additional 122 shares in the last quarter. Larson Financial Group LLC lifted its position in Cadence Design Systems by 159.7% during the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker's stock valued at $62,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cadence Design Systems in the 2nd quarter worth $69,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Cadence Design Systems during the second quarter valued at about $77,000. Institutional investors own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of research reports. Loop Capital assumed coverage on Cadence Design Systems in a report on Monday, November 11th. They set a "buy" rating and a $360.00 price objective on the stock. Rosenblatt Securities restated a "neutral" rating and issued a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Mizuho began coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They set an "outperform" rating and a $325.00 target price on the stock. Berenberg Bank started coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 target price on the stock. Finally, Oppenheimer initiated coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They set an "underperform" rating and a $225.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $326.00.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 20.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karna Nisewaner sold 659 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total value of $181,870.82. Following the completion of the sale, the senior vice president now directly owns 16,029 shares in the company, valued at approximately $4,423,683.42. This represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,634 shares of company stock worth $4,217,635 in the last three months. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Down 4.4 %

Shares of CDNS traded down $13.33 during trading hours on Friday, reaching $289.71. 1,583,318 shares of the company traded hands, compared to its average volume of 1,774,879. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The company's fifty day moving average price is $274.49 and its two-hundred day moving average price is $282.77. The company has a market capitalization of $79.46 billion, a price-to-earnings ratio of 76.04, a price-to-earnings-growth ratio of 3.75 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm's revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Equities research analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

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.