Marshall Financial Group LLC Purchases 264 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Marshall Financial Group LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,656 shares of the software maker’s stock after acquiring an additional 264 shares during the period. Marshall Financial Group LLC’s holdings in Cadence Design Systems were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CDNS. Valley National Advisers Inc. increased its holdings in Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after purchasing an additional 47 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Cadence Design Systems during the 4th quarter worth about $28,000. Annapolis Financial Services LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth about $32,000. Union Savings Bank bought a new position in shares of Cadence Design Systems in the 4th quarter valued at about $33,000. Finally, Rakuten Securities Inc. bought a new position in shares of Cadence Design Systems in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Friday, May 17th. Bank of America raised their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird upped their target price on shares of Cadence Design Systems from $322.00 to $341.00 and gave the company an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $334.89.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Chin-Chi Teng sold 32,184 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $297.45, for a total value of $9,573,130.80. Following the sale, the vice president now owns 95,408 shares in the company, valued at $28,379,109.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total value of $165,216.00. Following the completion of the transaction, the senior vice president now owns 20,480 shares in the company, valued at approximately $5,639,372.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Chin-Chi Teng sold 32,184 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total transaction of $9,573,130.80. Following the sale, the vice president now owns 95,408 shares in the company, valued at $28,379,109.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,134 shares of company stock valued at $14,978,483. 0.62% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS traded down $1.31 during midday trading on Thursday, hitting $315.47. The stock had a trading volume of 673,152 shares, compared to its average volume of 1,556,732. The company’s 50-day moving average price is $296.47 and its 200-day moving average price is $294.71. The company has a market capitalization of $85.94 billion, a P/E ratio of 82.15, a price-to-earnings-growth ratio of 3.88 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. Cadence Design Systems, Inc. has a fifty-two week low of $217.77 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted $1.02 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 4.77 EPS for the current fiscal 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.