Vanguard Personalized Indexing Management LLC Buys 4,249 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Vanguard Personalized Indexing Management LLC raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,288 shares of the software maker’s stock after acquiring an additional 4,249 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Cadence Design Systems were worth $10,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ulland Investment Advisors LLC bought a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $25,000. RiverPark Advisors LLC bought a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $26,000. ORG Partners LLC lifted its stake in shares of Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the period. Annapolis Financial Services LLC bought a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $32,000. Finally, Union Savings Bank bought a new position in shares of Cadence Design Systems in the 4th quarter worth approximately $33,000. Institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction on Monday, July 1st. The shares were sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the completion of the transaction, the vice president now directly owns 95,408 shares of the company’s stock, valued at $29,179,582.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now directly owns 65,194 shares in the company, valued at $17,357,250.56. The transaction was disclosed in a filing 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 on Monday, July 1st. The stock was sold at an average price of $305.84, for a total value of $3,058,400.00. Following the sale, the vice president now owns 95,408 shares of the company’s stock, valued at $29,179,582.72. The disclosure for this sale can be found here. Insiders sold 36,113 shares of company stock valued at $10,237,521 over the last three months. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CDNS shares. Robert W. Baird lowered their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research note on Tuesday, August 6th. KeyCorp raised their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Bank of America raised their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.56.

Cadence Design Systems Trading Up 0.6 %

CDNS stock opened at $274.79 on Wednesday. The firm has a fifty day moving average price of $272.06 and a 200 day moving average price of $291.01. Cadence Design Systems, Inc. has a fifty-two week low of $227.05 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a market cap of $74.86 billion, a PE ratio of 71.56, a price-to-earnings-growth ratio of 3.19 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share 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.