Cadence Design Systems, Inc. $CDNS Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 85.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,131 shares of the software maker’s stock after selling 6,503 shares during the period. Machina Capital S.A.S.’s holdings in Cadence Design Systems were worth $397,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Strategic Wealth Investment Group LLC acquired a new stake in shares of Cadence Design Systems during the second quarter worth $32,000. Promus Capital LLC bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $33,000. Robbins Farley acquired a new stake in Cadence Design Systems during the third quarter worth about $35,000. Cloud Capital Management LLC bought a new position in Cadence Design Systems in the third quarter worth about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after acquiring an additional 37 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $390.00 price target on shares of Cadence Design Systems in a report on Monday, December 22nd. JPMorgan Chase & Co. raised their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. KeyCorp reissued an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.59.

Cadence Design Systems Stock Down 0.5%

CDNS stock opened at $270.14 on Friday. The firm’s 50-day moving average is $315.46 and its two-hundred day moving average is $331.74. The company has a market capitalization of $73.53 billion, a price-to-earnings ratio of 69.62, a price-to-earnings-growth ratio of 3.03 and a beta of 1.01. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the completion of the transaction, the director directly owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the sale, the chief financial officer directly owned 69,957 shares in the company, valued at $22,286,201.49. This represents a 28.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,475 shares of company stock valued at $18,505,486 over the last three months. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Company Profile

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.