Sivia Capital Partners LLC Has $274,000 Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Sivia Capital Partners LLC trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 911 shares of the software maker’s stock after selling 144 shares during the period. Sivia Capital Partners LLC’s holdings in Cadence Design Systems were worth $274,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in Cadence Design Systems by 26.1% in the third quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock valued at $689,472,000 after purchasing an additional 572,251 shares in the last quarter. 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. Meridiem Investment Management Ltd. purchased a new stake in Cadence Design Systems in the third quarter worth $129,285,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Cadence Design Systems by 48.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock valued at $258,136,000 after buying an additional 310,250 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Cadence Design Systems by 153.4% in the second quarter. Marshall Wace LLP now owns 471,010 shares of the software maker’s stock worth $144,953,000 after buying an additional 285,130 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company began coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price for the company. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday. They set a “buy” rating and a $350.00 price objective on the stock. Oppenheimer initiated coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target on the stock. Loop Capital assumed coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective on the stock. Finally, Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $329.50.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the sale, the chief executive officer now owns 55,874 shares in the company, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 4,224 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total value of $1,305,342.72. Following the transaction, the chief financial officer now directly owns 29,248 shares of the company’s stock, valued at approximately $9,038,509.44. The trade was a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,916 shares of company stock worth $33,953,757. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Down 2.3 %

Shares of CDNS traded down $6.74 on Monday, reaching $292.26. 1,006,843 shares of the company’s stock were exchanged, compared to its average volume of 1,229,304. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The business has a 50 day moving average price of $304.20 and a two-hundred day moving average price of $285.41. The stock has a market capitalization of $80.16 billion, a P/E ratio of 76.71, a price-to-earnings-growth ratio of 4.16 and a beta of 1.04.

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

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.