Lattice Capital Management LLC Invests $325,000 in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Lattice Capital Management LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,200 shares of the software maker’s stock, valued at approximately $325,000. Cadence Design Systems makes up 0.3% of Lattice Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding.

Other institutional investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its holdings in Cadence Design Systems by 26.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,479 shares of the software maker’s stock worth $1,706,000 after acquiring an additional 1,160 shares during the period. Virtu Financial LLC grew its position in shares of Cadence Design Systems by 22.6% during the 1st quarter. Virtu Financial LLC now owns 2,734 shares of the software maker’s stock worth $851,000 after buying an additional 504 shares during the period. LRI Investments LLC bought a new stake in shares of Cadence Design Systems in the 1st quarter valued at about $215,000. Atria Investments Inc raised its position in shares of Cadence Design Systems by 2.1% in the 1st quarter. Atria Investments Inc now owns 15,611 shares of the software maker’s stock valued at $4,859,000 after acquiring an additional 322 shares during the period. Finally, Burney Co. grew its holdings in Cadence Design Systems by 3.9% during the first quarter. Burney Co. now owns 37,089 shares of the software maker’s stock valued at $11,545,000 after purchasing an additional 1,387 shares during the period. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Berenberg Bank started 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 on the stock. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective for the company. Finally, Loop Capital began coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.00.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $304.68 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The firm has a 50-day moving average of $280.77 and a 200-day moving average of $284.12. The company has a market cap of $83.56 billion, a PE ratio of 79.97, a price-to-earnings-growth ratio of 4.24 and a beta of 1.02. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $266.89, for a total transaction of $173,478.50. Following the transaction, the vice president now owns 64,544 shares in the company, valued at approximately $17,226,148.16. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total value of $413,970.00. Following the completion of the transaction, the director now directly owns 43,551 shares in the company, valued at approximately $12,019,204.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,634 shares of company stock worth $1,558,535. Company insiders own 0.62% of the company’s stock.

Cadence Design Systems Company 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.