CoreCap Advisors LLC Decreases Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

CoreCap Advisors LLC decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNSFree Report) by 4.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,680 shares of the software maker’s stock after selling 82 shares during the period. CoreCap Advisors LLC’s holdings in Cadence Design Systems were worth $458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. Fortitude Family Office LLC purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $28,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $27,000. OFI Invest Asset Management purchased a new stake in shares of Cadence Design Systems during the 3rd quarter worth approximately $26,000. Atlas Capital Advisors LLC increased its stake in shares of Cadence Design Systems by 322.6% during the 2nd quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Cadence Design Systems during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDNS. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. KeyCorp raised their price objective on shares of Cadence Design Systems from $325.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Morgan Stanley raised shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. Finally, Robert W. Baird raised their price objective on shares of Cadence Design Systems from $289.00 to $302.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $311.33.

Get Our Latest Analysis on Cadence Design Systems

Cadence Design Systems Stock Down 0.1 %

Shares of NASDAQ:CDNS opened at $316.01 on Wednesday. The firm has a fifty day moving average price of $300.87 and a two-hundred day moving average price of $270.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.13. Cadence Design Systems, Inc. has a one year low of $194.01 and a one year high of $327.36. The company has a market cap of $86.14 billion, a price-to-earnings ratio of 82.73, a PEG ratio of 3.93 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last posted its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Analysts anticipate that Cadence Design Systems, Inc. will post 4.81 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total value of $19,383,290.64. Following the transaction, the vice president now owns 156,156 shares in the company, valued at approximately $46,375,208.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 11,500 shares of Cadence Design Systems stock in a transaction on Friday, January 12th. The stock was sold at an average price of $267.67, for a total transaction of $3,078,205.00. Following the completion of the transaction, the director now owns 59,183 shares in the company, valued at approximately $15,841,513.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,244 shares of company stock valued at $58,930,611. Insiders own 1.67% of the company’s stock.

Cadence Design Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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