Cadence Design Systems (NASDAQ:CDNS) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. KeyCorp restated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. DA Davidson increased their price objective on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cadence Design Systems currently has an average rating of “Hold” and a consensus target price of $44.50.

Cadence Design Systems (CDNS) opened at $45.60 on Friday. Cadence Design Systems has a twelve month low of $25.62 and a twelve month high of $45.74. The firm has a market cap of $12,875.62, a P/E ratio of 49.03, a P/E/G ratio of 3.74 and a beta of 0.94. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The business had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. During the same period in the prior year, the business posted $0.30 earnings per share. Cadence Design Systems’s revenue was up 8.8% compared to the same quarter last year. equities analysts predict that Cadence Design Systems will post 1.06 EPS for the current fiscal year.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 25,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $44.69, for a total value of $1,117,250.00. Following the sale, the chief executive officer now directly owns 458,333 shares in the company, valued at $20,482,901.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John M. Wall sold 750 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. Following the completion of the sale, the chief financial officer now owns 110,823 shares in the company, valued at $4,857,372.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 350,500 shares of company stock worth $15,440,828. Company insiders own 2.55% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in Cadence Design Systems by 84.7% in the fourth quarter. State of Alaska Department of Revenue now owns 47,240 shares of the software maker’s stock worth $1,974,000 after purchasing an additional 21,670 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Cadence Design Systems by 1.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,473,694 shares of the software maker’s stock worth $61,630,000 after purchasing an additional 19,871 shares during the period. Gateway Investment Advisers LLC raised its holdings in Cadence Design Systems by 224.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 411,004 shares of the software maker’s stock worth $17,188,000 after purchasing an additional 284,417 shares during the period. National Pension Service raised its holdings in shares of Cadence Design Systems by 43,079.2% during the fourth quarter. National Pension Service now owns 339,820 shares of the software maker’s stock worth $14,211,000 after acquiring an additional 339,033 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth $415,000. Institutional investors own 84.77% of the company’s stock.

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About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

Analyst Recommendations for Cadence Design Systems (NASDAQ:CDNS)

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