BLB&B Advisors LLC Has $13.36 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

BLB&B Advisors LLC grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,309 shares of the software maker’s stock after purchasing an additional 2,138 shares during the period. BLB&B Advisors LLC’s holdings in Cadence Design Systems were worth $13,364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Leo Wealth LLC increased its stake in Cadence Design Systems by 6.6% during the 3rd quarter. Leo Wealth LLC now owns 780 shares of the software maker’s stock worth $211,000 after purchasing an additional 48 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Cadence Design Systems by 4.3% in the third quarter. Signaturefd LLC now owns 10,808 shares of the software maker’s stock valued at $2,929,000 after buying an additional 445 shares during the period. Dock Street Asset Management Inc. increased its position in shares of Cadence Design Systems by 1.2% during the third quarter. Dock Street Asset Management Inc. now owns 71,898 shares of the software maker’s stock worth $19,487,000 after acquiring an additional 869 shares in the last quarter. Kessler Investment Group LLC raised its holdings in shares of Cadence Design Systems by 18.4% during the third quarter. Kessler Investment Group LLC now owns 10,514 shares of the software maker’s stock worth $2,850,000 after acquiring an additional 1,637 shares during the period. Finally, Venture Visionary Partners LLC lifted its position in Cadence Design Systems by 2.5% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock valued at $463,000 after acquiring an additional 41 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % 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. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the completion of the transaction, the director now owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,347 shares of company stock valued at $7,728,272 in the last three months. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $251.51 on Wednesday. The company has a 50-day simple moving average of $268.93 and a two-hundred day simple moving average of $283.73. Cadence Design Systems, Inc. has a twelve month low of $228.66 and a twelve month high of $328.99. The stock has a market capitalization of $68.52 billion, a price-to-earnings ratio of 65.50, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. 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 issued its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. Analysts forecast that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CDNS. KeyCorp boosted their price target on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target for the company. Oppenheimer initiated coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Finally, Mizuho initiated coverage on shares of Cadence Design Systems in a research report on Tuesday. They set an “outperform” rating and a $325.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $323.42.

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.