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

Emerald Mutual Fund Advisers Trust decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 52.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 442 shares of the software maker’s stock after selling 493 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Cadence Design Systems were worth $133,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in Cadence Design Systems by 33.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker’s stock worth $547,886,000 after acquiring an additional 501,833 shares during the last quarter. Advisory Resource Group raised its holdings in shares of Cadence Design Systems by 20.9% in the third quarter. Advisory Resource Group now owns 3,721 shares of the software maker’s stock valued at $1,009,000 after buying an additional 643 shares during the last quarter. World Investment Advisors LLC lifted its position in Cadence Design Systems by 656.3% during the 3rd quarter. World Investment Advisors LLC now owns 7,457 shares of the software maker’s stock worth $2,021,000 after buying an additional 6,471 shares in the last quarter. Arvest Bank Trust Division bought a new stake in Cadence Design Systems during the 3rd quarter worth about $202,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Cadence Design Systems in the 3rd quarter valued at about $2,225,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 5.8 %

Shares of Cadence Design Systems stock opened at $302.22 on Wednesday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The company has a market capitalization of $82.90 billion, a P/E ratio of 78.30, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14. The business has a 50-day moving average of $255.41 and a two-hundred day moving average of $282.31.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. Cadence Design Systems’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $275.00, for a total transaction of $49,500.00. Following the completion of the transaction, the director now owns 7,411 shares of the company’s stock, valued at $2,038,025. This represents a 2.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total transaction of $164,216.00. Following the completion of the sale, the vice president now owns 108,799 shares in the company, valued at $27,486,979.36. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,130 shares of company stock valued at $567,999. Company insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CDNS shares. Oppenheimer reduced their target price on shares of Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 19th. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Bank of America upped their target price on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $325.00 price target on shares of Cadence Design Systems in a research report on Tuesday. Finally, Loop Capital cut their price objective on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $322.54.

Cadence Design Systems Company 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.