Capital Market Strategies LLC Raises Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Capital Market Strategies LLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,545 shares of the software maker’s stock after acquiring an additional 210 shares during the quarter. Capital Market Strategies LLC’s holdings in Cadence Design Systems were worth $464,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Larson Financial Group LLC increased its stake in Cadence Design Systems by 159.7% during the 2nd quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after buying an additional 123 shares during the period. Private Advisor Group LLC boosted its holdings in Cadence Design Systems by 42.4% in the second quarter. Private Advisor Group LLC now owns 7,875 shares of the software maker’s stock valued at $2,424,000 after purchasing an additional 2,343 shares during the period. Savant Capital LLC grew its stake in Cadence Design Systems by 10.1% during the 2nd quarter. Savant Capital LLC now owns 2,663 shares of the software maker’s stock worth $820,000 after purchasing an additional 244 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Cadence Design Systems by 2.8% in the 2nd quarter. Lake Street Advisors Group LLC now owns 2,274 shares of the software maker’s stock valued at $700,000 after purchasing an additional 62 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Cadence Design Systems by 32.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,986 shares of the software maker’s stock valued at $611,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the sale, the director now owns 42,051 shares in the company, valued at $11,928,186.66. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Wall sold 4,224 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $309.03, for a total transaction of $1,305,342.72. Following the transaction, the chief financial officer now owns 29,248 shares in the company, valued at approximately $9,038,509.44. The trade was a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,220 shares of company stock worth $3,085,474. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of recent analyst reports. Mizuho increased their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Robert W. Baird raised their target price on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Oppenheimer assumed coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $327.92.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded up $6.92 during mid-day trading on Monday, hitting $310.78. 730,575 shares of the company were exchanged, compared to its average volume of 1,000,482. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The business’s 50 day simple moving average is $301.62 and its two-hundred day simple moving average is $285.78. The company has a market capitalization of $85.24 billion, a P/E ratio of 81.57, a PEG ratio of 4.19 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

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.