Entropy Technologies LP Purchases Shares of 1,400 Cadence Design Systems, Inc. (NASDAQ:CDNS)

Entropy Technologies LP purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,400 shares of the software maker’s stock, valued at approximately $379,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Park National Corp OH raised its holdings in shares of Cadence Design Systems by 19.8% during the 2nd quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock worth $41,931,000 after acquiring an additional 22,537 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its position in Cadence Design Systems by 83.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 4,505 shares of the software maker’s stock worth $1,402,000 after purchasing an additional 2,048 shares during the last quarter. SG Americas Securities LLC raised its stake in Cadence Design Systems by 88.4% during the second quarter. SG Americas Securities LLC now owns 54,022 shares of the software maker’s stock valued at $16,625,000 after purchasing an additional 25,347 shares in the last quarter. Teamwork Financial Advisors LLC lifted its position in Cadence Design Systems by 19.4% during the third quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock valued at $3,559,000 after purchasing an additional 2,136 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of Cadence Design Systems by 5.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 228,597 shares of the software maker’s stock worth $61,957,000 after buying an additional 11,568 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total transaction of $173,478.50. Following the transaction, the vice president now directly owns 64,544 shares in the company, valued at $17,226,148.16. This represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the sale, the chief financial officer now owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. This represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,634 shares of company stock worth $4,217,635 in the last ninety days. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer started coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price on the stock. Mizuho initiated coverage on Cadence Design Systems in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 price objective on the stock. Loop Capital assumed coverage on Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. Robert W. Baird increased their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC lowered their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.00.

Cadence Design Systems Trading Down 4.4 %

NASDAQ CDNS opened at $289.71 on Friday. The stock has a market cap of $79.46 billion, a PE ratio of 76.04, a PEG ratio of 3.75 and a beta of 1.02. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The company’s 50-day moving average price is $273.65 and its 200-day moving average price is $282.72. 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 (NASDAQ:CDNS) last issued its earnings results on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share 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.