Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by L & S Advisors Inc

L & S Advisors Inc lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,495 shares of the software maker’s stock after selling 140 shares during the period. L & S Advisors Inc’s holdings in Cadence Design Systems were worth $1,383,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CDNS. Ulland Investment Advisors LLC acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. RiverPark Advisors LLC purchased a new position in Cadence Design Systems during the 1st quarter worth $26,000. ORG Partners LLC increased its stake in Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after purchasing an additional 82 shares during the period. Annapolis Financial Services LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at about $32,000. Finally, Hollencrest Capital Management boosted its stake in shares of Cadence Design Systems by 637.5% during the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after buying an additional 102 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Up 0.6 %

Shares of Cadence Design Systems stock opened at $274.79 on Wednesday. The company has a 50-day moving average of $272.06 and a two-hundred day moving average of $291.01. Cadence Design Systems, Inc. has a 12-month low of $227.05 and a 12-month high of $328.99. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The stock has a market cap of $74.86 billion, a PE ratio of 71.56, a price-to-earnings-growth ratio of 3.19 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. Cadence Design Systems’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CDNS. Robert W. Baird dropped their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. KeyCorp lifted their price objective on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Bank of America upped their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $334.56.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $307.75, for a total transaction of $184,650.00. Following the completion of the transaction, the senior vice president now owns 19,280 shares in the company, valued at $5,933,420. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $307.75, for a total transaction of $184,650.00. Following the completion of the transaction, the senior vice president now owns 19,280 shares of the company’s stock, valued at $5,933,420. The transaction 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 Monday, July 15th. The shares were sold at an average price of $314.57, for a total value of $471,855.00. Following the completion of the sale, the director now owns 46,551 shares in the company, valued at $14,643,548.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,113 shares of company stock valued at $10,237,521. Insiders own 1.99% of the company’s stock.

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.