Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,046 shares of the software maker’s stock after selling 158 shares during the period. Atomi Financial Group Inc.’s holdings in Cadence Design Systems were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CDNS. RiverPark Advisors LLC acquired a new stake in Cadence Design Systems in the 1st quarter worth about $26,000. ORG Partners LLC increased its stake in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Annapolis Financial Services LLC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth about $32,000. Hollencrest Capital Management lifted its stake in shares of Cadence Design Systems by 637.5% in the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after purchasing an additional 102 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of Cadence Design Systems in the first quarter valued at about $45,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total transaction of $2,763,600.00. Following the transaction, the vice president now owns 95,408 shares in the company, valued at $26,366,954.88. This trade represents a 0.00 % 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. In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total transaction of $2,763,600.00. Following the completion of the transaction, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $314.57, for a total value of $471,855.00. Following the completion of the sale, the director now directly owns 46,551 shares in the company, valued at $14,643,548.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,347 shares of company stock worth $7,774,637. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Trading Up 0.6 %

Cadence Design Systems stock opened at $282.39 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. Cadence Design Systems, Inc. has a 1 year low of $228.66 and a 1 year high of $328.99. The firm’s 50-day moving average is $268.79 and its 200-day moving average is $286.20. The company has a market cap of $76.93 billion, a P/E ratio of 73.54, a PEG ratio of 3.37 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. On average, equities analysts expect that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDNS. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target for the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. KeyCorp lifted their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.60.

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.