Talbot Financial LLC Buys Shares of 1,000 Cadence Design Systems, Inc. (NASDAQ:CDNS)

Talbot Financial LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,000 shares of the software maker’s stock, valued at approximately $300,000.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Cadence Design Systems by 48.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth approximately $24,026,000. Teamwork Financial Advisors LLC increased its holdings in shares of Cadence Design Systems by 19.4% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock worth $3,559,000 after acquiring an additional 2,136 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Cadence Design Systems by 2.7% during the 3rd quarter. Jennison Associates LLC now owns 7,606,175 shares of the software maker’s stock worth $2,061,502,000 after acquiring an additional 198,230 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Cadence Design Systems by 5.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 228,597 shares of the software maker’s stock worth $61,957,000 after acquiring an additional 11,568 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Mizuho boosted their target price on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Robert W. Baird boosted their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Loop Capital assumed coverage on Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 target price for the company. Wells Fargo & Company assumed coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price for the company. Finally, Redburn Atlantic began coverage on Cadence Design Systems in a research report on Monday. They set a “buy” rating and a $350.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $329.50.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 61,111 shares in the company, valued at approximately $16,866,636. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’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 transaction, the director now owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,916 shares of company stock valued at $33,953,757. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Down 2.2 %

Shares of NASDAQ CDNS traded down $6.46 during midday trading on Monday, reaching $292.54. The company had a trading volume of 693,315 shares, compared to its average volume of 1,185,790. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99. The stock has a market cap of $80.23 billion, a PE ratio of 76.78, a price-to-earnings-growth ratio of 4.16 and a beta of 1.04. 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’s fifty day moving average price is $304.20 and its 200-day moving average price is $285.41.

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, beating analysts’ consensus estimates 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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $1.01 EPS. Cadence Design Systems’s revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current 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.