2,078 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,078 shares of the software maker’s stock, valued at approximately $624,000.

Other institutional investors have also recently modified their holdings of the company. Swedbank AB raised its position in shares of Cadence Design Systems by 15.1% in the third quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock valued at $475,336,000 after buying an additional 230,672 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Cadence Design Systems in the third quarter valued at approximately $202,000. Strategic Blueprint LLC acquired a new position in Cadence Design Systems in the 3rd quarter valued at $248,000. Pinnacle Associates Ltd. raised its holdings in Cadence Design Systems by 7.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 999 shares of the software maker’s stock valued at $272,000 after acquiring an additional 73 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its holdings in Cadence Design Systems by 6.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,072 shares of the software maker’s stock valued at $291,000 after acquiring an additional 61 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CDNS. Piper Sandler upped their target price on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Loop Capital dropped their price objective on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $325.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 19th. Bank of America dropped their price target on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.92.

Cadence Design Systems Stock Up 0.8 %

Shares of NASDAQ CDNS opened at $250.50 on Friday. The stock has a fifty day moving average price of $295.10 and a 200 day moving average price of $286.61. The company has a market cap of $68.66 billion, a P/E ratio of 64.90, a P/E/G ratio of 3.88 and a beta of 1.03. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now directly owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Scannell sold 3,171 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $305.78, for a total value of $969,628.38. Following the completion of the transaction, the vice president now owns 14,318 shares in the company, valued at approximately $4,378,158.04. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock valued at $33,538,875 over the last 90 days. 1.99% of the stock is owned by corporate insiders.

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.