Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Bought by Catalina Capital Group LLC

Catalina Capital Group LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,082 shares of the software maker’s stock after acquiring an additional 81 shares during the quarter. Catalina Capital Group LLC’s holdings in Cadence Design Systems were worth $293,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Falcon Wealth Planning raised its stake in shares of Cadence Design Systems by 5.1% during the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after buying an additional 40 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of Cadence Design Systems by 42.6% during the 3rd quarter. NorthRock Partners LLC now owns 2,038 shares of the software maker’s stock worth $552,000 after buying an additional 609 shares during the last quarter. Amalgamated Bank raised its stake in shares of Cadence Design Systems by 2.7% during the 3rd quarter. Amalgamated Bank now owns 60,079 shares of the software maker’s stock worth $16,283,000 after buying an additional 1,589 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth $339,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Cadence Design Systems by 1,162.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,294 shares of the software maker’s stock worth $893,000 after buying an additional 3,033 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total transaction of $179,400.00. Following the transaction, the vice president now directly owns 61,111 shares of the company’s stock, valued at approximately $16,866,636. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total transaction of $179,400.00. Following the transaction, the vice president now directly owns 61,111 shares of the company’s stock, valued at approximately $16,866,636. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly owns 38,654 shares in the company, valued at $10,278,485.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,347 shares of company stock valued at $7,734,616. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several research reports. Needham & Company LLC cut their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Mizuho assumed coverage on Cadence Design Systems in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 price objective for the company. Finally, Berenberg Bank assumed coverage on Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.17.

Cadence Design Systems Stock Up 1.9 %

Shares of NASDAQ:CDNS opened at $296.75 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The stock has a market capitalization of $81.39 billion, a P/E ratio of 77.89, a PEG ratio of 3.45 and a beta of 1.02. The stock has a 50-day simple moving average of $268.72 and a 200-day simple moving average of $281.85.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

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.