2,425 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Purchased by Retireful LLC

Retireful LLC bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,425 shares of the software maker’s stock, valued at approximately $729,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Cadence Design Systems by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 596,897 shares of the software maker’s stock valued at $183,705,000 after acquiring an additional 42,895 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Cadence Design Systems by 8.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 38,519 shares of the software maker’s stock valued at $11,854,000 after purchasing an additional 2,849 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Cadence Design Systems by 1.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 28,037 shares of the software maker’s stock worth $8,628,000 after purchasing an additional 536 shares during the period. Argent Trust Co raised its position in shares of Cadence Design Systems by 4.2% in the second quarter. Argent Trust Co now owns 3,643 shares of the software maker’s stock worth $1,121,000 after buying an additional 146 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Cadence Design Systems by 5.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,400 shares of the software maker’s stock valued at $1,354,000 after buying an additional 208 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Down 0.6 %

CDNS opened at $298.90 on Friday. The company has a market cap of $81.98 billion, a P/E ratio of 78.45, a P/E/G ratio of 3.44 and a beta of 1.04. 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 moving average price is $304.40 and its 200-day moving average price is $285.31. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data 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 return on equity of 28.49% and a net margin of 23.87%. 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 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. On average, equities analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Analyst Ratings Changes

CDNS has been the topic of several recent analyst reports. Redburn Atlantic assumed coverage on Cadence Design Systems in a report on Monday. They issued a “buy” rating and a $350.00 price target on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Wells Fargo & Company began coverage on shares of Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Mizuho lifted their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Loop Capital started coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 4,224 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were 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 directly owns 29,248 shares of the company’s stock, valued at approximately $9,038,509.44. The trade was a 12.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anirudh Devgan sold 5,920 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the completion of the transaction, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock valued at $33,528,267 in the last quarter. 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.