Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 77.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,880 shares of the software maker’s stock after purchasing an additional 16,526 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cadence Design Systems were worth $10,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CDNS. OFI Invest Asset Management acquired a new position in Cadence Design Systems during the third quarter worth $26,000. Valley National Advisers Inc. raised its position in Cadence Design Systems by 90.4% during the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after acquiring an additional 47 shares during the period. Fortitude Family Office LLC acquired a new position in Cadence Design Systems during the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in Cadence Design Systems during the fourth quarter worth $45,000. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of Cadence Design Systems by 34.7% during the third quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock worth $47,000 after buying an additional 52 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Stifel Nicolaus upped their target price on shares of Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Monday. Finally, Morgan Stanley raised shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $316.50.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Thomas P. Beckley sold 65,268 shares of the 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 completion of the transaction, the vice president now owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Thomas P. Beckley sold 65,268 shares of the 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 sale, the vice president now 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, CEO Anirudh Devgan sold 1,454 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $441,870.60. Following the sale, the chief executive officer now directly owns 136,455 shares in the company, valued at approximately $41,468,674.50. The disclosure for this sale can be found here. Insiders sold a total of 173,044 shares of company stock valued at $52,231,207 over the last 90 days. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Trading Up 0.2 %

Shares of CDNS traded up $0.48 during mid-day trading on Thursday, reaching $278.14. The stock had a trading volume of 1,036,954 shares, compared to its average volume of 1,558,556. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.13. The firm has a market cap of $75.72 billion, a price-to-earnings ratio of 72.31, a P/E/G ratio of 3.43 and a beta of 1.04. The business’s fifty day moving average is $304.38 and its 200 day moving average is $280.97. Cadence Design Systems, Inc. has a 52-week low of $198.92 and a 52-week high of $327.36.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. Cadence Design Systems’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 4.81 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.