Marshall Financial Group LLC Has $1.42 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Marshall Financial Group LLC lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,613 shares of the software maker’s stock after selling 43 shares during the quarter. Marshall Financial Group LLC’s holdings in Cadence Design Systems were worth $1,420,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $1,141,059,000. Swedbank AB bought a new stake in Cadence Design Systems during the first quarter worth $439,988,000. BNP Paribas Financial Markets boosted its holdings in shares of Cadence Design Systems by 58.1% in the 1st quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock valued at $396,470,000 after purchasing an additional 468,195 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Cadence Design Systems by 6.9% in the 1st quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock valued at $2,205,582,000 after purchasing an additional 459,603 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Cadence Design Systems by 111.5% during the 1st quarter. 1832 Asset Management L.P. now owns 856,410 shares of the software maker’s stock worth $266,583,000 after buying an additional 451,530 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $309.09, for a total value of $463,635.00. Following the completion of the sale, the director now directly owns 48,051 shares in the company, valued at $14,852,083.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $295.00, for a total transaction of $191,750.00. Following the completion of the sale, the vice president now owns 66,494 shares in the company, valued at $19,615,730. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $309.09, for a total value of $463,635.00. Following the completion of the transaction, the director now owns 48,051 shares in the company, valued at $14,852,083.59. The disclosure for this sale can be found here. Insiders have sold 47,684 shares of company stock valued at $14,288,863 in the last ninety days. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Bank of America increased their price objective 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. Piper Sandler raised 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 increased their price target on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $334.56.

Cadence Design Systems Trading Up 0.3 %

CDNS stock traded up $0.88 during trading on Friday, hitting $281.00. The company had a trading volume of 1,090,251 shares, compared to its average volume of 1,724,359. The stock has a market cap of $76.55 billion, a PE ratio of 73.18, a PEG ratio of 3.14 and a beta of 1.03. The business has a 50-day moving average of $292.63 and a 200-day moving average of $296.03. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a one year low of $217.77 and a one year high of $328.99.

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, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion for 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%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 4.74 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.