Donaldson Capital Management LLC Has $4.30 Million Position in Cadence Design Systems, Inc. $CDNS

Donaldson Capital Management LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,230 shares of the software maker’s stock after selling 2,381 shares during the period. Donaldson Capital Management LLC’s holdings in Cadence Design Systems were worth $4,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems during the second quarter worth approximately $31,000. Strategic Wealth Investment Group LLC acquired a new position in Cadence Design Systems during the 2nd quarter valued at $32,000. Promus Capital LLC bought a new stake in Cadence Design Systems in the 2nd quarter valued at $33,000. Robbins Farley acquired a new stake in Cadence Design Systems in the 3rd quarter worth $35,000. Finally, Cloud Capital Management LLC acquired a new stake in Cadence Design Systems in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CDNS shares. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Rosenblatt Securities upped their price target on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $379.59.

Insiders Place Their Bets

In related news, VP Paul Scannell sold 5,490 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the sale, the vice president owned 20,321 shares in the company, valued at $6,897,557.03. This trade represents a 21.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John M. Wall sold 27,805 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the sale, the chief financial officer owned 69,957 shares of the company’s stock, valued at $22,286,201.49. This trade represents a 28.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,025 shares of company stock worth $20,369,946 in the last quarter. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $296.36 on Friday. The stock’s fifty day simple moving average is $317.89 and its 200 day simple moving average is $333.02. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm has a market cap of $80.67 billion, a price-to-earnings ratio of 76.38, a P/E/G ratio of 3.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.