Centaurus Financial Inc. Has $356,000 Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Centaurus Financial Inc. increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,155 shares of the software maker’s stock after purchasing an additional 237 shares during the quarter. Centaurus Financial Inc.’s holdings in Cadence Design Systems were worth $356,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Capital Market Strategies LLC lifted its position in shares of Cadence Design Systems by 3.1% in the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after buying an additional 39 shares during the last quarter. Inspire Advisors LLC boosted its stake in Cadence Design Systems by 1.8% in the 1st quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker’s stock valued at $694,000 after purchasing an additional 40 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in Cadence Design Systems by 4.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock valued at $296,000 after buying an additional 41 shares in the last quarter. First Affirmative Financial Network increased its position in Cadence Design Systems by 3.6% during the 1st quarter. First Affirmative Financial Network now owns 1,325 shares of the software maker’s stock worth $412,000 after buying an additional 46 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Cadence Design Systems by 1.3% during the first quarter. Gilbert & Cook Inc. now owns 3,666 shares of the software maker’s stock worth $1,141,000 after buying an additional 47 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDNS has been the topic of several research reports. KeyCorp upped their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, August 6th. Robert W. Baird reduced 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. Finally, Piper Sandler raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $323.60.

Cadence Design Systems Stock Up 1.1 %

Shares of NASDAQ CDNS opened at $268.65 on Friday. The company has a market cap of $73.19 billion, a price-to-earnings ratio of 69.96, a PEG ratio of 3.30 and a beta of 1.02. 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, Inc. has a 12 month low of $228.66 and a 12 month high of $328.99. The stock has a 50-day moving average price of $267.08 and a two-hundred day moving average price of $287.73.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 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 the consensus estimate of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, analysts forecast that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the transaction, the vice president now owns 95,408 shares of the company’s stock, valued at $26,366,954.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total value of $173,056.00. Following the sale, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total value of $2,763,600.00. Following the transaction, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,322 shares of company stock valued at $7,768,048 in the last 90 days. 1.99% of the stock is owned by corporate insiders.

About Cadence Design Systems

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.