Slow Capital Inc. Acquires 51 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Slow Capital Inc. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.5% during the third quarter, Holdings Channel reports. The fund owned 10,315 shares of the software maker’s stock after purchasing an additional 51 shares during the period. Slow Capital Inc.’s holdings in Cadence Design Systems were worth $2,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Capital Investment Advisors LLC raised its stake in Cadence Design Systems by 17.7% in the 3rd quarter. Capital Investment Advisors LLC now owns 5,906 shares of the software maker’s stock valued at $1,601,000 after acquiring an additional 889 shares during the period. Blue Trust Inc. raised its stake in Cadence Design Systems by 178.7% in the 3rd quarter. Blue Trust Inc. now owns 4,752 shares of the software maker’s stock valued at $1,288,000 after acquiring an additional 3,047 shares during the period. Net Worth Advisory Group bought a new position in Cadence Design Systems during the 3rd quarter worth $390,000. Trust Point Inc. increased its position in Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock worth $379,000 after buying an additional 40 shares during the period. Finally, Stonegate Investment Group LLC increased its position in Cadence Design Systems by 1.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 3,274 shares of the software maker’s stock worth $887,000 after buying an additional 42 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 10,000 shares of the firm’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 sale, the vice president now directly owns 95,408 shares of the company’s stock, valued at $26,366,954.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the sale, the director now directly owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the sale, the vice president now directly owns 95,408 shares in the company, valued at $26,366,954.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 over the last ninety days. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on 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 Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a research report on Tuesday, August 6th. Robert W. Baird lowered their price objective 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, KeyCorp increased 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $323.27.

Cadence Design Systems Stock Performance

CDNS opened at $258.52 on Friday. The business’s fifty day moving average is $269.59 and its 200-day moving average is $284.83. The firm has a market cap of $70.43 billion, a P/E ratio of 67.32, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. Cadence Design Systems, Inc. has a 52-week low of $228.66 and a 52-week high of $328.99.

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 business 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%. Cadence Design Systems’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. Sell-side analysts expect that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

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.