SeaCrest Wealth Management LLC Makes New $29,000 Investment in Cadence Design Systems, Inc. (NASDAQ:CDNS)

SeaCrest Wealth Management LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 191 shares of the software maker’s stock, valued at approximately $29,000.

A number of other institutional investors have also modified their holdings of CDNS. San Luis Wealth Advisors LLC acquired a new position in shares of Cadence Design Systems in the first quarter valued at approximately $28,000. MV Capital Management Inc. increased its holdings in shares of Cadence Design Systems by 74.1% in the first quarter. MV Capital Management Inc. now owns 188 shares of the software maker’s stock valued at $31,000 after purchasing an additional 80 shares during the period. Zions Bancorporation N.A. increased its holdings in shares of Cadence Design Systems by 108.3% in the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after purchasing an additional 117 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Cadence Design Systems in the first quarter valued at approximately $39,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Cadence Design Systems by 45.9% in the second quarter. Parkside Financial Bank & Trust now owns 334 shares of the software maker’s stock valued at $50,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

Insider Buying and Selling

In related news, VP Aneel Zaman sold 1,409 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $184.42, for a total transaction of $259,847.78. Following the transaction, the vice president now directly owns 92,284 shares in the company, valued at $17,019,015.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Anirudh Devgan sold 1,523 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $176.34, for a total transaction of $268,565.82. Following the transaction, the chief executive officer now directly owns 180,859 shares in the company, valued at $31,892,676.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aneel Zaman sold 1,409 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $184.42, for a total value of $259,847.78. Following the transaction, the vice president now owns 92,284 shares in the company, valued at $17,019,015.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,889 shares of company stock worth $39,137,833. 1.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CDNS shares. Deutsche Bank Aktiengesellschaft started coverage on Cadence Design Systems in a report on Wednesday, September 28th. They set a “buy” rating and a $200.00 price objective on the stock. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Wolfe Research started coverage on Cadence Design Systems in a report on Tuesday, August 16th. They set an “outperform” rating and a $210.00 price objective on the stock. Rosenblatt Securities dropped their price objective on Cadence Design Systems from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Finally, Needham & Company LLC upped their price objective on Cadence Design Systems from $193.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.75.

Cadence Design Systems Stock Up 2.1 %

Shares of NASDAQ:CDNS opened at $165.20 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. Cadence Design Systems, Inc. has a 52-week low of $132.32 and a 52-week high of $194.97. The stock’s fifty day simple moving average is $158.57 and its 200-day simple moving average is $161.23. The company has a market capitalization of $45.32 billion, a P/E ratio of 58.17, a P/E/G ratio of 2.73 and a beta of 1.07.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last issued its quarterly earnings data on Monday, October 24th. The software maker reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.10. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The business had revenue of $902.55 million for the quarter, compared to the consensus estimate of $868.85 million. During the same period in the prior year, the business earned $0.65 earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 3.41 earnings per share for the current fiscal year.

Cadence Design Systems Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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