M3 Advisory Group LLC Purchases 51 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

M3 Advisory Group LLC boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 838 shares of the software maker’s stock after acquiring an additional 51 shares during the period. M3 Advisory Group LLC’s holdings in Cadence Design Systems were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CDNS. Avior Wealth Management LLC grew its holdings in Cadence Design Systems by 12.4% in the 4th quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock valued at $98,000 after buying an additional 36 shares during the last quarter. Dudley Capital Management LLC increased its position in Cadence Design Systems by 4.3% during the third quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock worth $257,000 after acquiring an additional 39 shares during the period. Trust Point Inc. raised its stake in Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after purchasing an additional 40 shares during the last quarter. Falcon Wealth Planning boosted its holdings in Cadence Design Systems by 5.1% in the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock valued at $222,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Cadence Design Systems by 0.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after purchasing an additional 40 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the sale, the vice president now owns 61,111 shares in the company, valued at $16,866,636. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the completion of the transaction, the vice president now owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,416 shares of company stock worth $33,528,267. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Loop Capital started coverage on Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 target price on the stock. Redburn Atlantic started coverage on Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 price objective on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Mizuho raised their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

Cadence Design Systems Trading Down 1.2 %

Shares of CDNS opened at $320.48 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a market cap of $87.89 billion, a price-to-earnings ratio of 84.12, a PEG ratio of 3.70 and a beta of 1.04. The stock has a fifty day moving average price of $306.14 and a two-hundred day moving average price of $285.35. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. Analysts predict that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal 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.