Lbp Am Sa Sells 44,880 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Lbp Am Sa lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 86.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,053 shares of the software maker’s stock after selling 44,880 shares during the period. Lbp Am Sa’s holdings in Cadence Design Systems were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Ulland Investment Advisors LLC bought a new position in Cadence Design Systems in the first quarter valued at $25,000. RiverPark Advisors LLC bought a new position in shares of Cadence Design Systems during the 1st quarter valued at about $26,000. Valley National Advisers Inc. raised its holdings in shares of Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after buying an additional 47 shares in the last quarter. Annapolis Financial Services LLC bought a new stake in Cadence Design Systems in the 1st quarter worth approximately $32,000. Finally, Hollencrest Capital Management boosted its stake in Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after buying an additional 102 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Chin-Chi Teng sold 32,184 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $297.45, for a total value of $9,573,130.80. Following the sale, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $28,379,109.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Chin-Chi Teng sold 32,184 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total transaction of $9,573,130.80. Following the completion of the transaction, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $28,379,109.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $287.14, for a total value of $430,710.00. Following the completion of the sale, the director now directly owns 49,551 shares in the company, valued at $14,228,074.14. The disclosure for this sale can be found here. Insiders have sold a total of 48,534 shares of company stock valued at $14,546,517 over the last ninety days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 2.6 %

NASDAQ CDNS traded down $6.85 during trading on Thursday, hitting $260.81. The company had a trading volume of 2,801,681 shares, compared to its average volume of 1,656,624. The company’s fifty day moving average is $299.20 and its 200-day moving average is $297.93. The company has a market cap of $71.41 billion, a price-to-earnings ratio of 69.12, a price-to-earnings-growth ratio of 3.04 and a beta of 1.03. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a one year low of $217.77 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.94 earnings per share. Cadence Design Systems’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 4.74 earnings per share for the current year.

Analysts Set New Price Targets

CDNS has been the subject of a number of research reports. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. KeyCorp increased their target price on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.56.

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.