Lbp Am Sa Raises Stock Position in Cadence Design Systems, Inc. $CDNS

Lbp Am Sa lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,502 shares of the software maker’s stock after buying an additional 9,396 shares during the quarter. Lbp Am Sa’s holdings in Cadence Design Systems were worth $41,976,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after acquiring an additional 80 shares during the period. ST Germain D J Co. Inc. increased its holdings in Cadence Design Systems by 234.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 720 shares of the software maker’s stock worth $222,000 after acquiring an additional 505 shares in the last quarter. Patton Fund Management Inc. acquired a new position in Cadence Design Systems during the second quarter worth $234,000. Finally, Signaturefd LLC raised its position in Cadence Design Systems by 5.8% during the second quarter. Signaturefd LLC now owns 10,392 shares of the software maker’s stock worth $3,202,000 after acquiring an additional 574 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Up 0.4%

CDNS opened at $318.32 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The stock has a market capitalization of $86.65 billion, a P/E ratio of 82.04, a P/E/G ratio of 3.55 and a beta of 1.02. The business has a 50 day simple moving average of $317.17 and a 200-day simple moving average of $333.39.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $315.70, for a total value of $315,700.00. Following the transaction, the vice president directly owned 96,067 shares of the company’s stock, valued at approximately $30,328,351.90. This trade represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 62,025 shares of company stock valued at $20,369,946 in the last three months. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price for the company. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Finally, Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective on the stock in a report on Monday, December 1st. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $379.59.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.