Green Alpha Advisors LLC Has $911,000 Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Green Alpha Advisors LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,032 shares of the software maker’s stock after selling 294 shares during the period. Green Alpha Advisors LLC’s holdings in Cadence Design Systems were worth $911,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Paragon Advisors LLC grew its holdings in shares of Cadence Design Systems by 5.3% during the fourth quarter. Paragon Advisors LLC now owns 6,810 shares of the software maker’s stock valued at $2,046,000 after buying an additional 345 shares during the last quarter. Czech National Bank lifted its position in Cadence Design Systems by 6.6% in the 4th quarter. Czech National Bank now owns 59,466 shares of the software maker’s stock valued at $17,867,000 after acquiring an additional 3,686 shares in the last quarter. Graypoint LLC increased its holdings in Cadence Design Systems by 7.9% during the 4th quarter. Graypoint LLC now owns 2,090 shares of the software maker’s stock worth $628,000 after purchasing an additional 153 shares in the last quarter. HBW Advisory Services LLC raised its stake in shares of Cadence Design Systems by 22.5% in the fourth quarter. HBW Advisory Services LLC now owns 2,203 shares of the software maker’s stock worth $662,000 after purchasing an additional 404 shares during the last quarter. Finally, LVM Capital Management Ltd. MI bought a new position in shares of Cadence Design Systems in the fourth quarter valued at approximately $281,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the sale, the director now owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This represents a 3.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $276.00, for a total value of $179,400.00. Following the completion of the transaction, the vice president now owns 61,111 shares of the company’s stock, valued at approximately $16,866,636. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,916 shares of company stock valued at $33,953,757. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company started coverage on Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Mizuho raised their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective for the company. Finally, Needham & Company LLC cut their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.92.

Cadence Design Systems Stock Down 1.2 %

Shares of NASDAQ CDNS opened at $299.00 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The stock has a market capitalization of $82.00 billion, a PE ratio of 78.48, a P/E/G ratio of 4.16 and a beta of 1.04. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99. The business’s fifty day moving average price is $304.20 and its 200-day moving average price is $285.41.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.44 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current 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.