Cadence Design Systems, Inc. (NASDAQ:CDNS) Holdings Raised by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,981 shares of the software maker's stock after purchasing an additional 1,079 shares during the quarter. Farther Finance Advisors LLC's holdings in Cadence Design Systems were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after purchasing an additional 676 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Cadence Design Systems in the 4th quarter valued at $9,958,000. Stephens Inc. AR increased its holdings in shares of Cadence Design Systems by 19.1% in the fourth quarter. Stephens Inc. AR now owns 5,520 shares of the software maker's stock valued at $1,659,000 after purchasing an additional 886 shares during the last quarter. Savant Capital LLC raised its stake in Cadence Design Systems by 7.3% during the fourth quarter. Savant Capital LLC now owns 2,566 shares of the software maker's stock worth $771,000 after purchasing an additional 175 shares during the period. Finally, Portfolio Design Labs LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $241,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

NASDAQ CDNS traded down $7.85 on Friday, reaching $300.00. The company had a trading volume of 1,188,835 shares, compared to its average volume of 2,019,299. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99. The stock has a market capitalization of $81.91 billion, a PE ratio of 77.72, a price-to-earnings-growth ratio of 3.88 and a beta of 0.99. The firm's 50 day moving average price is $291.22 and its 200 day moving average price is $287.43.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.07. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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 stock was sold at an average price of $275.00, for a total value of $49,500.00. Following the sale, the director now owns 7,411 shares of the company's stock, valued at approximately $2,038,025. The trade was a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anirudh Devgan sold 10,737 shares of Cadence Design Systems stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $310.00, for a total value of $3,328,470.00. Following the sale, the chief executive officer now owns 209,548 shares of the company's stock, valued at approximately $64,959,880. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,625 shares of company stock worth $5,670,453. Corporate insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CDNS shares. Needham & Company LLC reissued a "buy" rating and issued a $325.00 target price on shares of Cadence Design Systems in a research report on Tuesday, May 13th. Rosenblatt Securities raised their target price on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Oppenheimer reduced their target price on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $300.00 to $325.00 in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $325.23.

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.