David J Yvars Group Has $3.17 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

David J Yvars Group lessened its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.3% in the third quarter, Holdings Channel.com reports. The firm owned 11,691 shares of the software maker’s stock after selling 274 shares during the quarter. Cadence Design Systems comprises 2.0% of David J Yvars Group’s portfolio, making the stock its 15th biggest holding. David J Yvars Group’s holdings in Cadence Design Systems were worth $3,169,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC raised its position in Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after acquiring an additional 122 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Cadence Design Systems by 159.7% in the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after acquiring an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Cadence Design Systems in the second quarter valued at approximately $69,000. Finally, Opal Wealth Advisors LLC bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $77,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total value of $179,400.00. Following the transaction, the vice president now owns 61,111 shares in the company, valued at $16,866,636. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the sale, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the transaction, the vice president now owns 61,111 shares in the company, valued at approximately $16,866,636. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,734,616 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $296.75 on Thursday. The firm has a market capitalization of $81.39 billion, a P/E ratio of 77.89, a P/E/G ratio of 3.54 and a beta of 1.02. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99. The stock has a 50 day moving average price of $268.72 and a two-hundred day moving average price of $281.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Cadence Design Systems’s revenue was up 18.8% compared to the same quarter last year. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CDNS. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Berenberg Bank assumed coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective on the stock. Needham & Company LLC lowered their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a research note on Tuesday, August 6th. Finally, Oppenheimer assumed coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average price target of $323.17.

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.