TrimTabs Asset Management LLC Sells 97 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

TrimTabs Asset Management LLC cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,444 shares of the software maker’s stock after selling 97 shares during the quarter. Cadence Design Systems accounts for about 1.0% of TrimTabs Asset Management LLC’s portfolio, making the stock its 21st biggest holding. TrimTabs Asset Management LLC’s holdings in Cadence Design Systems were worth $2,047,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Cadence Design Systems by 3.1% during the fourth quarter. BlackRock Inc. now owns 32,273,978 shares of the software maker’s stock worth $4,403,137,000 after buying an additional 980,279 shares in the last quarter. Parnassus Investments CA grew its stake in Cadence Design Systems by 2.2% in the fourth quarter. Parnassus Investments CA now owns 6,978,422 shares of the software maker’s stock valued at $952,066,000 after purchasing an additional 150,888 shares in the last quarter. FMR LLC lifted its position in shares of Cadence Design Systems by 36.1% in the fourth quarter. FMR LLC now owns 6,199,519 shares of the software maker’s stock valued at $845,801,000 after buying an additional 1,643,533 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Cadence Design Systems by 72.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,095,513 shares of the software maker’s stock valued at $422,321,000 after buying an additional 1,302,663 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Cadence Design Systems by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,891,458 shares of the software maker’s stock valued at $394,482,000 after buying an additional 100,642 shares during the last quarter. Institutional investors and hedge funds own 83.86% of the company’s stock.

CDNS has been the subject of a number of recent analyst reports. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research report on Thursday, February 25th. JPMorgan Chase & Co. raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $122.00 to $145.00 in a report on Wednesday, December 9th. DA Davidson lifted their price target on Cadence Design Systems from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, February 23rd. Needham & Company LLC lifted their price target on Cadence Design Systems from $126.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Finally, KeyCorp lifted their price target on Cadence Design Systems from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $141.31.

Shares of CDNS traded up $2.40 during midday trading on Thursday, hitting $144.96. The company’s stock had a trading volume of 23,144 shares, compared to its average volume of 1,825,818. The stock has a market capitalization of $40.45 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 4.64 and a beta of 1.05. Cadence Design Systems, Inc. has a one year low of $69.46 and a one year high of $149.08. The company has a quick ratio of 1.51, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $133.53 and its two-hundred day simple moving average is $125.02.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Sunday, February 21st. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $759.10 million for the quarter, compared to analyst estimates of $731.31 million. Cadence Design Systems had a return on equity of 48.31% and a net margin of 42.68%. Cadence Design Systems’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. On average, research analysts predict that Cadence Design Systems, Inc. will post 2.02 earnings per share for the current year.

In other news, VP Chin-Chi Teng sold 5,000 shares of the business’s stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $140.21, for a total value of $701,050.00. Following the transaction, the vice president now directly owns 184,202 shares of the company’s stock, valued at approximately $25,826,962.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 25th. The shares were sold at an average price of $126.65, for a total value of $126,650.00. Following the completion of the transaction, the vice president now directly owns 104,081 shares in the company, valued at $13,181,858.65. The disclosure for this sale can be found here. Insiders have sold a total of 387,846 shares of company stock worth $52,521,473 in the last 90 days. 2.58% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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