Capital Investment Advisory Services LLC Purchases 110 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Capital Investment Advisory Services LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,260 shares of the software maker’s stock after buying an additional 110 shares during the period. Capital Investment Advisory Services LLC’s holdings in Cadence Design Systems were worth $343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CDNS. OFI Invest Asset Management bought a new stake in shares of Cadence Design Systems in the third quarter valued at about $26,000. Valley National Advisers Inc. raised its holdings in shares of Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after acquiring an additional 47 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Cadence Design Systems by 34.7% in the third 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 in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Down 1.1 %

Cadence Design Systems stock opened at $281.76 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. Cadence Design Systems, Inc. has a 52 week low of $194.01 and a 52 week high of $327.36. The company has a market capitalization of $76.71 billion, a price-to-earnings ratio of 73.38, a price-to-earnings-growth ratio of 3.47 and a beta of 1.04. The stock has a 50-day moving average price of $304.84 and a 200 day moving average price of $280.99.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a return on equity of 33.53% and a net margin of 25.68%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.81 EPS for the current year.

Wall Street Analyst Weigh In

CDNS has been the topic of several analyst reports. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $260.00 to $350.00 in a research note on Wednesday, February 14th. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Piper Sandler dropped their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a research note on Tuesday. Robert W. Baird boosted their price target on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company boosted their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $316.50.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’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 transaction, the director now directly owns 53,183 shares of the company’s stock, valued at $15,924,053.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’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 transaction, the director now directly owns 53,183 shares of the company’s stock, valued at $15,924,053.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $310,460.00. Following the completion of the transaction, the vice president now directly owns 68,144 shares of the company’s stock, valued at $21,155,986.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,044 shares of company stock valued at $52,231,207. 0.62% of the stock is owned by company 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.