363 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Bought by Mpwm Advisory Solutions LLC

Mpwm Advisory Solutions LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 363 shares of the software maker’s stock, valued at approximately $109,000.

Other institutional investors have also bought and sold shares of the company. Principal Street Partners LLC lifted its stake in shares of Cadence Design Systems by 2.6% in the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker’s stock valued at $437,000 after purchasing an additional 37 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cadence Design Systems by 10.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker’s stock worth $1,326,912,000 after purchasing an additional 427,418 shares in the last quarter. Sone Capital Management LLC acquired a new position in Cadence Design Systems in the fourth quarter valued at approximately $4,270,000. Vident Advisory LLC boosted its holdings in shares of Cadence Design Systems by 52.1% during the 4th quarter. Vident Advisory LLC now owns 32,709 shares of the software maker’s stock worth $9,828,000 after buying an additional 11,209 shares in the last quarter. Finally, Vista Cima Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $514,000. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CDNS. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. KeyCorp lifted their price target on shares of Cadence Design Systems from $355.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Oppenheimer dropped their price objective on shares of Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a report on Wednesday, March 19th. Robert W. Baird raised their target price on Cadence Design Systems from $293.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, Piper Sandler boosted their target price on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $325.23.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $275.00, for a total transaction of $49,500.00. Following the transaction, the director now owns 7,411 shares of the company’s stock, valued at $2,038,025. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $252.73, for a total value of $164,274.50. Following the completion of the transaction, the vice president now owns 58,123 shares in the company, valued at $14,689,425.79. The trade was a 1.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,577 shares of company stock worth $5,316,411 over the last quarter. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $320.30 on Tuesday. The firm has a market capitalization of $87.46 billion, a P/E ratio of 82.98, a P/E/G ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $328.99. The stock has a 50 day moving average price of $273.78 and a two-hundred day moving average price of $286.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Cadence Design Systems’s revenue was up 23.1% compared to the same quarter last year. Equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share 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.