Glass Wealth Management Co LLC Purchases 70 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Glass Wealth Management Co LLC boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 865 shares of the software maker’s stock after purchasing an additional 70 shares during the period. Glass Wealth Management Co LLC’s holdings in Cadence Design Systems were worth $234,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. ORG Partners LLC increased its stake in shares of Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares during the period. Missouri Trust & Investment Co bought a new stake in Cadence Design Systems during the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC increased its position in Cadence Design Systems by 244.0% in the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Cadence Design Systems by 159.7% during the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after purchasing an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Cadence Design Systems in the second quarter worth $69,000. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now owns 42,051 shares in the company, valued at $11,928,186.66. This represents a 3.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total value of $173,478.50. Following the transaction, the vice president now owns 64,544 shares of the company’s stock, valued at $17,226,148.16. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,634 shares of company stock valued at $4,217,635. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 4.4 %

Shares of NASDAQ CDNS opened at $289.71 on Monday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The firm has a market cap of $79.46 billion, a PE ratio of 76.04, a P/E/G ratio of 3.93 and a beta of 1.02. The company’s fifty day simple moving average is $274.49 and its 200 day simple moving average is $282.88. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Mizuho assumed coverage on Cadence Design Systems in a report on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 target price on the stock. Robert W. Baird lifted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Oppenheimer started coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price for the company. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Finally, Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $326.00.

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.