Strategic Advisors LLC Boosts Holdings in Cadence Design Systems, Inc. $CDNS

Strategic Advisors LLC lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 39.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,373 shares of the software maker’s stock after buying an additional 2,381 shares during the period. Strategic Advisors LLC’s holdings in Cadence Design Systems were worth $2,941,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CDNS. Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems in the second quarter worth $31,000. Robbins Farley purchased a new position in shares of Cadence Design Systems in the third quarter valued at about $35,000. Strategic Wealth Investment Group LLC bought a new position in shares of Cadence Design Systems during the second quarter valued at about $32,000. Promus Capital LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth about $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Cadence Design Systems in the third quarter worth about $39,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $315.70, for a total transaction of $315,700.00. Following the completion of the sale, the vice president directly owned 96,067 shares in the company, valued at approximately $30,328,351.90. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the transaction, the vice president directly owned 20,321 shares of the company’s stock, valued at $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,025 shares of company stock worth $20,369,946 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

CDNS stock opened at $320.49 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The firm has a 50 day moving average price of $317.96 and a 200-day moving average price of $333.28. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The firm has a market capitalization of $87.24 billion, a price-to-earnings ratio of 82.60, a PEG ratio of 3.55 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $1.64 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wolfe Research reaffirmed an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Robert W. Baird raised their price target on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $379.59.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.