Cadence Design Systems (NASDAQ:CDNS) Now Covered by Mizuho

Mizuho assumed coverage on shares of Cadence Design Systems (NASDAQ:CDNS) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $325.00 price target on the software maker’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Berenberg Bank began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price for the company. Robert W. Baird dropped their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Oppenheimer assumed coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective on the stock. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a report on Tuesday, August 6th. Finally, KeyCorp lifted their price target on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.42.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $257.30 on Tuesday. The firm has a market capitalization of $70.09 billion, a P/E ratio of 67.07, a P/E/G ratio of 3.37 and a beta of 1.02. The stock has a fifty day moving average price of $267.89 and a two-hundred day moving average price of $283.26. Cadence Design Systems has a 52-week low of $228.66 and a 52-week high of $328.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32.

Insider Activity

In related news, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was 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 directly owns 38,654 shares in the company, valued at $10,278,485.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Karna Nisewaner sold 1,213 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $279.49, for a total value of $339,021.37. Following the completion of the sale, the senior vice president now owns 17,617 shares of the company’s stock, valued at $4,923,775.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,347 shares of company stock valued at $7,728,272. 1.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth $26,000. ORG Partners LLC raised its position in shares of Cadence Design Systems by 911.1% during the second 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 period. Annapolis Financial Services LLC bought a new position in shares of Cadence Design Systems during the 1st quarter valued at about $32,000. Hollencrest Capital Management grew its position in shares of Cadence Design Systems by 637.5% in the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after purchasing an additional 102 shares during the period. Finally, Chilton Capital Management LLC increased its stake in Cadence Design Systems by 244.0% during the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Company 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.