Xponance Inc. Purchases 4,048 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Xponance Inc. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 73,879 shares of the software maker’s stock after buying an additional 4,048 shares during the quarter. Xponance Inc.’s holdings in Cadence Design Systems were worth $20,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNS. Highview Capital Management LLC DE increased its holdings in shares of Cadence Design Systems by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock worth $1,411,000 after buying an additional 39 shares during the last quarter. BSW Wealth Partners grew its holdings in Cadence Design Systems by 2.8% during the 4th quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock valued at $442,000 after purchasing an additional 44 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Cadence Design Systems by 2.5% during the 3rd quarter. Lindbrook Capital LLC now owns 1,844 shares of the software maker’s stock valued at $432,000 after purchasing an additional 45 shares during the last quarter. Savant Capital LLC grew its holdings in Cadence Design Systems by 2.7% during the 3rd quarter. Savant Capital LLC now owns 1,733 shares of the software maker’s stock valued at $406,000 after purchasing an additional 45 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Cadence Design Systems by 9.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 545 shares of the software maker’s stock valued at $128,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Rosenblatt Securities cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $265.00 to $280.00 in a research report on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, March 6th. Morgan Stanley raised shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $260.00 to $350.00 in a research report on Wednesday, February 14th. Finally, Piper Sandler started coverage on shares of Cadence Design Systems in a research report on Thursday, April 4th. They issued a “neutral” rating and a $334.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.10.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the transaction, the director now owns 50,183 shares in the company, valued at approximately $15,498,015.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the transaction, the director now owns 50,183 shares in the company, valued at approximately $15,498,015.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Plummer sold 2,412 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $315.40, for a total transaction of $760,744.80. Following the transaction, the director now owns 22,923 shares in the company, valued at approximately $7,229,914.20. The disclosure for this sale can be found here. Insiders sold 177,544 shares of company stock valued at $53,581,207 over the last 90 days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 2.7 %

NASDAQ:CDNS traded down $7.81 during midday trading on Thursday, reaching $285.90. 2,692,228 shares of the stock traded hands, compared to its average volume of 1,492,031. Cadence Design Systems, Inc. has a 12-month low of $194.01 and a 12-month high of $327.36. The business has a 50-day moving average of $306.58 and a two-hundred day moving average of $279.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24. The stock has a market capitalization of $77.83 billion, a PE ratio of 76.89, a price-to-earnings-growth ratio of 3.65 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. Cadence Design Systems’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 4.82 earnings per share for the current fiscal year.

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.