SG Americas Securities LLC Acquires 9,694 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

SG Americas Securities LLC lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,716 shares of the software maker’s stock after buying an additional 9,694 shares during the quarter. SG Americas Securities LLC’s holdings in Cadence Design Systems were worth $17,269,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CDNS. Capital Market Strategies LLC raised its holdings in Cadence Design Systems by 3.1% during the 2nd quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock worth $400,000 after purchasing an additional 39 shares during the last quarter. Inspire Advisors LLC increased its holdings in Cadence Design Systems by 1.8% in the first 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 last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock worth $296,000 after buying an additional 41 shares during the last quarter. First Affirmative Financial Network boosted its holdings in Cadence Design Systems by 3.6% during the first 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 last quarter. Finally, Gilbert & Cook Inc. increased its stake in shares of Cadence Design Systems by 1.3% in the 1st quarter. Gilbert & Cook Inc. now owns 3,666 shares of the software maker’s stock valued at $1,141,000 after acquiring an additional 47 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Up 1.1 %

Shares of NASDAQ:CDNS traded up $2.86 during trading on Friday, hitting $268.65. 1,095,892 shares of the company were exchanged, compared to its average volume of 1,711,604. The stock has a market cap of $73.19 billion, a price-to-earnings ratio of 69.96, a P/E/G ratio of 3.30 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $228.66 and a fifty-two week high of $328.99. The firm has a fifty day moving average price of $267.08 and a two-hundred day moving average price of $287.89. 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 posted its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $314.57, for a total transaction of $471,855.00. Following the transaction, the director now directly owns 46,551 shares of the company’s stock, valued at approximately $14,643,548.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of the company’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 $26,366,954.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the director now directly owns 46,551 shares in the company, valued at approximately $14,643,548.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,322 shares of company stock valued at $7,768,048. 1.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CDNS shares. Oppenheimer started coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective for the company. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price for the company in a report on Tuesday, August 6th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.60.

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.