Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Creekmur Asset Management LLC

Creekmur Asset Management LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 323.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,001 shares of the software maker’s stock after purchasing an additional 2,292 shares during the quarter. Creekmur Asset Management LLC’s holdings in Cadence Design Systems were worth $813,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CDNS. RiverPark Advisors LLC purchased a new stake in Cadence Design Systems in the first quarter valued at approximately $26,000. ORG Partners LLC increased its position in shares of Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Hollencrest Capital Management boosted its stake in shares of Cadence Design Systems by 637.5% during the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after acquiring an additional 102 shares during the last quarter. Chilton Capital Management LLC boosted its stake in shares of Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Cadence Design Systems by 159.7% during the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock valued at $62,000 after acquiring an additional 123 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other news, VP Chin-Chi Teng sold 10,000 shares of the business’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 sale, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chin-Chi Teng sold 10,000 shares of the business’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 sale, the vice president now directly owns 95,408 shares in the company, valued at $26,366,954.88. 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 90 days, insiders have sold 28,347 shares of company stock valued at $7,728,272. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $282.50 on Wednesday. Cadence Design Systems, Inc. has a twelve month low of $233.51 and a twelve month high of $328.99. The company has a market capitalization of $76.96 billion, a price-to-earnings ratio of 74.08, a price-to-earnings-growth ratio of 3.03 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. The business has a 50 day simple moving average of $266.90 and a 200-day simple moving average of $281.98.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly 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 29.54% and a net margin of 25.36%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDNS. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target on the stock. Piper Sandler raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target on the stock in a research note on Tuesday, August 6th. Oppenheimer began coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target on the stock. Finally, Robert W. Baird raised their price target on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.17.

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.