Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Bought by Csenge Advisory Group

Csenge Advisory Group increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,200 shares of the software maker’s stock after acquiring an additional 63 shares during the quarter. Csenge Advisory Group’s holdings in Cadence Design Systems were worth $985,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in Cadence Design Systems by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock worth $140,000 after purchasing an additional 38 shares during the last quarter. Highview Capital Management LLC DE grew its stake in Cadence Design Systems by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after acquiring an additional 39 shares during the last quarter. Fiduciary Trust Co raised its position in Cadence Design Systems by 0.6% during the fourth quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock worth $1,833,000 after acquiring an additional 39 shares during the last quarter. Capital Market Strategies LLC grew its position in shares of Cadence Design Systems by 3.1% in the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after purchasing an additional 39 shares during the last quarter. Finally, GraniteShares Advisors LLC raised its position in shares of Cadence Design Systems by 1.2% during the 1st quarter. GraniteShares Advisors LLC now owns 3,468 shares of the software maker’s stock worth $1,080,000 after purchasing an additional 40 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $287.14, for a total transaction of $430,710.00. Following the transaction, the director now owns 49,551 shares of the company’s stock, valued at approximately $14,228,074.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $287.14, for a total transaction of $430,710.00. Following the transaction, the director now directly owns 49,551 shares in the company, valued at approximately $14,228,074.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Karna Nisewaner sold 600 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $287.31, for a total value of $172,386.00. Following the sale, the senior vice president now owns 19,880 shares of the company’s stock, valued at $5,711,722.80. The disclosure for this sale can be found here. Insiders have sold a total of 49,184 shares of company stock valued at $14,719,573 in the last three months. 1.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CDNS shares. Piper Sandler raised 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. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday. Finally, StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.56.

Cadence Design Systems Trading Up 7.3 %

Shares of Cadence Design Systems stock opened at $268.68 on Friday. The business has a fifty day simple moving average of $294.74 and a 200-day simple moving average of $296.86. The firm has a market cap of $73.19 billion, a price-to-earnings ratio of 69.97, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Cadence Design Systems, Inc. has a fifty-two week low of $217.77 and a fifty-two week high of $328.99. 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 (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 4.74 EPS for the current fiscal 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.