Consilio Wealth Advisors LLC Makes New $302,000 Investment in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Consilio Wealth Advisors LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 969 shares of the software maker’s stock, valued at approximately $302,000.

Other hedge funds have also recently modified their holdings of the company. Claro Advisors LLC purchased a new stake in Cadence Design Systems during the first quarter worth $201,000. Miracle Mile Advisors LLC lifted its stake in shares of Cadence Design Systems by 38.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,744 shares of the software maker’s stock worth $1,477,000 after purchasing an additional 1,314 shares during the last quarter. Kowal Investment Group LLC lifted its stake in shares of Cadence Design Systems by 33.8% during the 1st quarter. Kowal Investment Group LLC now owns 1,496 shares of the software maker’s stock worth $466,000 after purchasing an additional 378 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in Cadence Design Systems by 6,740.0% in the first quarter. Wolff Wiese Magana LLC now owns 342 shares of the software maker’s stock valued at $106,000 after purchasing an additional 337 shares during the last quarter. Finally, Diversified Trust Co grew its stake in Cadence Design Systems by 5.0% in the first quarter. Diversified Trust Co now owns 4,969 shares of the software maker’s stock valued at $1,547,000 after purchasing an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS traded up $3.17 during trading hours on Monday, reaching $310.92. The stock had a trading volume of 1,330,007 shares, compared to its average volume of 1,560,583. Cadence Design Systems, Inc. has a 52-week low of $217.77 and a 52-week high of $328.99. The stock has a fifty day moving average of $294.50 and a 200 day moving average of $293.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32. The stock has a market cap of $84.70 billion, a P/E ratio of 80.97, a price-to-earnings-growth ratio of 3.77 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Sell-side analysts predict that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CDNS shares. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a research report on Friday, May 17th. Finally, Piper Sandler decreased their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.78.

Insider Activity

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems 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 completion of the transaction, the director now directly owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.83, for a total value of $463,245.00. Following the completion of 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 SEC, which is available through the SEC website. Also, VP Chin-Chi Teng sold 32,184 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total value of $9,573,130.80. Following the transaction, the vice president now owns 95,408 shares in the company, valued at approximately $28,379,109.60. The disclosure for this sale can be found here. Insiders sold a total of 39,534 shares of company stock valued at $11,735,433 in the last quarter. 0.62% of the stock is currently owned by company insiders.

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.