B. Riley Wealth Advisors Inc. Has $461,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

B. Riley Wealth Advisors Inc. cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 44.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,535 shares of the software maker's stock after selling 1,221 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Cadence Design Systems were worth $461,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Cadence Design Systems by 80.2% in the 4th 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. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Cadence Design Systems by 28.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,009 shares of the software maker's stock worth $303,000 after buying an additional 224 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Cadence Design Systems in the fourth quarter worth $9,958,000. Strategic Blueprint LLC boosted its holdings in shares of Cadence Design Systems by 33.7% during the 4th quarter. Strategic Blueprint LLC now owns 1,222 shares of the software maker's stock worth $367,000 after buying an additional 308 shares during the period. Finally, Capital Investment Advisory Services LLC grew its stake in Cadence Design Systems by 2.8% in the 4th quarter. Capital Investment Advisory Services LLC now owns 2,051 shares of the software maker's stock valued at $616,000 after buying an additional 55 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

CDNS has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Cadence Design Systems from $318.00 to $328.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Mizuho raised their target price on Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average price target of $325.23.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total transaction of $164,216.00. Following the completion of the transaction, the vice president now directly owns 108,799 shares of the company's stock, valued at $27,486,979.36. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anirudh Devgan sold 10,737 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $310.00, for a total transaction of $3,328,470.00. Following the sale, the chief executive officer now directly owns 209,548 shares in the company, valued at $64,959,880. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,445 shares of company stock worth $5,615,733 over the last three months. Company insiders own 1.99% of the company's stock.

Cadence Design Systems Price Performance

NASDAQ CDNS traded up $1.07 on Wednesday, reaching $294.40. The company's stock had a trading volume of 1,430,305 shares, compared to its average volume of 2,019,160. The firm has a market cap of $80.38 billion, a PE ratio of 76.27, a price-to-earnings-growth ratio of 3.88 and a beta of 1.04. The business has a 50-day moving average price of $284.78 and a 200 day moving average price of $287.52. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $328.99. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The company's quarterly revenue was up 23.1% on a year-over-year basis. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS 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.