Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Bought by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 23.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,232 shares of the software maker’s stock after buying an additional 609 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Cadence Design Systems were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. GLOBALT Investments LLC GA bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $5,603,000. V Square Quantitative Management LLC boosted its position in Cadence Design Systems by 132.3% during the 4th quarter. V Square Quantitative Management LLC now owns 7,646 shares of the software maker’s stock worth $2,083,000 after acquiring an additional 4,355 shares during the period. Napa Wealth Management bought a new position in shares of Cadence Design Systems in the fourth quarter worth $519,000. Cim LLC acquired a new position in shares of Cadence Design Systems during the fourth quarter valued at $1,103,000. Finally, Virtu Financial LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at about $607,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Up 0.6 %

Shares of Cadence Design Systems stock opened at $282.39 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a 12-month low of $228.66 and a 12-month high of $328.99. The firm has a market capitalization of $76.93 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The stock’s fifty day moving average is $268.13 and its 200-day moving average is $286.64.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. Equities analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now directly owns 65,194 shares of the company’s stock, valued at $17,357,250.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Monday, July 15th. The shares were sold at an average price of $314.57, for a total transaction of $471,855.00. Following the completion of the sale, the director now owns 46,551 shares of the company’s stock, valued at $14,643,548.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares in the company, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,347 shares of company stock valued at $7,774,637. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CDNS shares. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price for the company in a research report on Tuesday, August 6th. Robert W. Baird lowered their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Oppenheimer assumed coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $323.60.

About Cadence Design Systems

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.