Jackson Creek Investment Advisors LLC Has $1.09 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Jackson Creek Investment Advisors LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,990 shares of the software maker’s stock after selling 532 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Cadence Design Systems were worth $1,087,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Cadence Design Systems in the third quarter worth $26,000. Valley National Advisers Inc. boosted its holdings in Cadence Design Systems by 90.4% in the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after purchasing an additional 47 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Cadence Design Systems during the 4th quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in Cadence Design Systems in the 4th quarter worth $45,000. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of Cadence Design Systems by 34.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock valued at $47,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other news, VP Thomas P. Beckley sold 65,268 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the transaction, the vice president now owns 156,156 shares in the company, valued at $46,375,208.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $296.98, for a total value of $19,383,290.64. Following the transaction, the vice president now directly owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $299.42, for a total value of $449,130.00. Following the completion of the sale, the director now owns 53,183 shares in the company, valued at approximately $15,924,053.86. The disclosure for this sale can be found here. Insiders have sold 173,044 shares of company stock valued at $52,231,207 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $260.00 to $350.00 in a research report on Wednesday, February 14th. Robert W. Baird raised their target price on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a report on Friday, April 19th. KeyCorp raised their price target on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.11.

Cadence Design Systems Stock Down 2.4 %

NASDAQ:CDNS traded down $6.86 during trading hours on Tuesday, reaching $275.63. The company’s stock had a trading volume of 1,700,080 shares, compared to its average volume of 1,578,436. Cadence Design Systems, Inc. has a 12 month low of $198.92 and a 12 month high of $327.36. The stock has a 50 day moving average price of $303.69 and a two-hundred day moving average price of $281.82. The company has a market capitalization of $75.01 billion, a P/E ratio of 73.57, a price-to-earnings-growth ratio of 3.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Cadence Design Systems, Inc. will post 4.78 EPS for the current fiscal 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.