ASB Consultores LLC Has $547,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

ASB Consultores LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 74.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,778 shares of the software maker’s stock after acquiring an additional 761 shares during the period. ASB Consultores LLC’s holdings in Cadence Design Systems were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CDNS. Ulland Investment Advisors LLC acquired a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $25,000. RiverPark Advisors LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth $26,000. ORG Partners LLC raised its holdings in shares of Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Annapolis Financial Services LLC bought a new stake in Cadence Design Systems in the first quarter worth $32,000. Finally, Union Savings Bank bought a new stake in shares of Cadence Design Systems during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CDNS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Robert W. Baird lowered 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. KeyCorp boosted their price objective on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, August 6th. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $334.56.

Cadence Design Systems Stock Up 4.0 %

NASDAQ CDNS opened at $280.35 on Friday. Cadence Design Systems, Inc. has a 1-year low of $227.05 and a 1-year high of $328.99. The company has a market capitalization of $76.37 billion, a price-to-earnings ratio of 73.01, a PEG ratio of 3.19 and a beta of 1.02. The stock’s 50 day moving average is $270.39 and its two-hundred day moving average is $290.78. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23.

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

Insider Transactions at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the completion of the sale, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $29,179,582.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Karna Nisewaner sold 600 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 19,280 shares of the company’s stock, valued at approximately $5,933,420. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Chin-Chi Teng sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the sale, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $29,179,582.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,272 shares of company stock valued at $10,833,362. Corporate insiders own 1.99% 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.