B.O.S.S. Retirement Advisors LLC Buys Shares of 2,948 Cadence Design Systems, Inc. (NASDAQ:CDNS)

B.O.S.S. Retirement Advisors LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,948 shares of the software maker’s stock, valued at approximately $886,000.

Other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in shares of Cadence Design Systems by 72.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 10,398 shares of the software maker’s stock valued at $3,200,000 after buying an additional 4,366 shares in the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth $518,000. APG Asset Management N.V. lifted its position in shares of Cadence Design Systems by 61.7% during the second quarter. APG Asset Management N.V. now owns 337,358 shares of the software maker’s stock worth $96,871,000 after acquiring an additional 128,769 shares in the last quarter. Daymark Wealth Partners LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth $266,000. Finally, MBB Public Markets I LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth $5,826,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Mizuho increased their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Needham & Company LLC lowered their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Berenberg Bank began coverage on shares of Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Wells Fargo & Company began coverage on Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $329.50.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total value of $1,799,916.80. Following the sale, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $306.19, for a total value of $199,023.50. Following the completion of the sale, the vice president now directly owns 60,461 shares in the company, valued at $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,416 shares of company stock worth $33,528,267. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Down 1.2 %

CDNS stock opened at $320.48 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a market capitalization of $87.89 billion, a PE ratio of 84.12, a price-to-earnings-growth ratio of 3.70 and a beta of 1.04. The company’s 50 day moving average price is $306.14 and its two-hundred day moving average price is $285.35. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share 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.