Emerald Mutual Fund Advisers Trust Sells 493 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Emerald Mutual Fund Advisers Trust lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 52.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 442 shares of the software maker’s stock after selling 493 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Cadence Design Systems were worth $133,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new stake in Cadence Design Systems during the fourth quarter worth $28,000. Avalon Trust Co bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $39,000. Versant Capital Management Inc lifted its stake in Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after purchasing an additional 87 shares during the last quarter. OFI Invest Asset Management bought a new position in Cadence Design Systems during the fourth quarter worth about $46,000. Finally, Synergy Investment Management LLC acquired a new position in Cadence Design Systems during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of several research analyst reports. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Mizuho increased their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday. Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $325.00 target price on shares of Cadence Design Systems in a research note on Tuesday. Finally, Robert W. Baird upped their price objective on Cadence Design Systems from $293.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $322.54.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $302.22 on Wednesday. The business has a fifty day simple moving average of $255.41 and a 200 day simple moving average of $282.31. The company has a market cap of $82.90 billion, a P/E ratio of 78.30, a P/E/G ratio of 3.88 and a beta of 1.14. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.07. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. On average, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the transaction, the vice president now owns 58,773 shares of the company’s stock, valued at $17,180,523.36. This represents a 1.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $275.00, for a total value of $49,500.00. Following the sale, the director now directly owns 7,411 shares in the company, valued at $2,038,025. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,130 shares of company stock worth $567,999. Corporate insiders own 1.99% of the company’s stock.

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.