B.O.S.S. Retirement Advisors LLC Takes Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,948 shares of the software maker’s stock, valued at approximately $886,000.

Other large investors have also bought and sold shares of the company. Avior Wealth Management LLC boosted its position in shares of Cadence Design Systems by 12.4% during the fourth quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock valued at $98,000 after purchasing an additional 36 shares in the last quarter. Dudley Capital Management LLC boosted its holdings in shares of Cadence Design Systems by 4.3% during the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock valued at $257,000 after buying an additional 39 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after buying an additional 40 shares in the last quarter. Falcon Wealth Planning boosted its stake in Cadence Design Systems by 5.1% during the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after acquiring an additional 40 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Cadence Design Systems by 0.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after acquiring an additional 40 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CDNS shares. Loop Capital started coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 price objective on the stock. Wells Fargo & Company initiated coverage on Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. Berenberg Bank assumed coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

Insider Buying and Selling

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the sale, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $17,320,940. This trade represents a 62.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total value of $179,400.00. Following the sale, the vice president now directly owns 61,111 shares in the company, valued at approximately $16,866,636. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,416 shares of company stock valued at $33,528,267. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 1.2 %

CDNS stock opened at $320.48 on Friday. The business’s 50-day moving average is $306.14 and its two-hundred day moving average is $285.35. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a market cap of $87.89 billion, a price-to-earnings ratio of 84.12, a P/E/G ratio of 3.70 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The business’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Cadence Design Systems 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.