Good Life Advisors LLC Buys New Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Good Life Advisors LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,024 shares of the software maker’s stock, valued at approximately $278,000.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of Cadence Design Systems by 223.8% in the 1st quarter. Empowered Funds LLC now owns 9,181 shares of the software maker’s stock valued at $2,858,000 after purchasing an additional 6,346 shares during the period. Norden Group LLC increased its holdings in Cadence Design Systems by 1,659.3% in the 1st quarter. Norden Group LLC now owns 13,300 shares of the software maker’s stock worth $4,140,000 after acquiring an additional 12,544 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Cadence Design Systems by 58.1% in the 1st quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock worth $396,470,000 after acquiring an additional 468,195 shares in the last quarter. Park National Corp OH increased its holdings in Cadence Design Systems by 19.8% in the 2nd quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock worth $41,931,000 after acquiring an additional 22,537 shares in the last quarter. Finally, Teamwork Financial Advisors LLC increased its holdings in Cadence Design Systems by 40.0% in the 1st quarter. Teamwork Financial Advisors LLC now owns 35,151 shares of the software maker’s stock worth $10,942,000 after acquiring an additional 10,037 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDNS. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target for the company. KeyCorp boosted their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird cut their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Monday, October 7th. Finally, Berenberg Bank began coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus target price of $323.27.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the transaction, the director now owns 42,051 shares of the company’s stock, valued at $11,928,186.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Karna Nisewaner sold 1,213 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $279.49, for a total transaction of $339,021.37. Following the sale, the senior vice president now owns 17,617 shares of the company’s stock, valued at approximately $4,923,775.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the sale, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 over the last 90 days. 1.99% of the stock is owned by insiders.

Cadence Design Systems Trading Down 1.7 %

Shares of CDNS opened at $258.52 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.32 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 50-day moving average price of $269.59 and a 200 day moving average price of $284.68. The firm has a market capitalization of $70.43 billion, a P/E ratio of 67.32, a P/E/G ratio of 3.37 and a beta of 1.02.

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