1,075 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Bought by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,075 shares of the software maker’s stock, valued at approximately $301,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CDNS. Fulton Bank N.A. boosted its stake in shares of Cadence Design Systems by 9.5% during the first quarter. Fulton Bank N.A. now owns 1,701 shares of the software maker’s stock valued at $529,000 after purchasing an additional 148 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of Cadence Design Systems by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 22,525 shares of the software maker’s stock valued at $7,011,000 after acquiring an additional 136 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Cadence Design Systems by 21.2% during the first quarter. International Assets Investment Management LLC now owns 1,237 shares of the software maker’s stock valued at $386,000 after acquiring an additional 216 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in Cadence Design Systems by 498.4% in the first quarter. Contravisory Investment Management Inc. now owns 27,587 shares of the software maker’s stock valued at $8,587,000 after buying an additional 22,977 shares during the last quarter. Finally, Cooper Financial Group boosted its position in Cadence Design Systems by 1.0% in the first quarter. Cooper Financial Group now owns 5,672 shares of the software maker’s stock valued at $1,766,000 after buying an additional 56 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems 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 sale, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the vice president now owns 65,194 shares in the company, valued at approximately $17,357,250.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at $10,278,485.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 in the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $258.52 on Friday. The stock’s 50-day moving average is $269.59 and its 200-day moving average is $284.83. The company has a market cap of $70.43 billion, a price-to-earnings ratio of 67.32, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a 12 month low of $228.66 and a 12 month high of $328.99.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on CDNS. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a research report on Tuesday, August 6th. KeyCorp increased their price objective 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. Robert W. Baird reduced their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. Finally, Oppenheimer began coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $323.27.

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.