KRS Capital Management LLC Buys 186 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

KRS Capital Management LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,076 shares of the software maker’s stock after buying an additional 186 shares during the quarter. KRS Capital Management LLC’s holdings in Cadence Design Systems were worth $646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Cadence Design Systems by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock worth $140,000 after purchasing an additional 38 shares during the period. Highview Capital Management LLC DE lifted its holdings in Cadence Design Systems by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock worth $1,411,000 after buying an additional 39 shares during the period. Fiduciary Trust Co lifted its holdings in Cadence Design Systems by 0.6% in the fourth quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock worth $1,833,000 after buying an additional 39 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in Cadence Design Systems by 4.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock worth $296,000 after buying an additional 41 shares during the period. Finally, Capital Market Strategies LLC lifted its holdings in Cadence Design Systems by 3.4% in the first quarter. Capital Market Strategies LLC now owns 1,261 shares of the software maker’s stock worth $393,000 after buying an additional 42 shares during the period. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CDNS shares. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a report on Friday, May 17th. Bank of America lifted their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Monday, April 22nd. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $332.78.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded down $0.17 during trading on Friday, reaching $307.75. 2,312,595 shares of the stock traded hands, compared to its average volume of 1,602,099. The company has a market capitalization of $83.84 billion, a price-to-earnings ratio of 80.14, a P/E/G ratio of 3.77 and a beta of 1.04. The business has a fifty day simple moving average of $294.50 and a two-hundred day simple moving average of $293.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. Cadence Design Systems, Inc. has a 52-week low of $217.77 and a 52-week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 earnings per share. Sell-side analysts expect that Cadence Design Systems, Inc. will post 4.77 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $309.09, for a total value of $463,635.00. Following the completion of the sale, the director now owns 48,051 shares of the company’s stock, valued at $14,852,083.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the completion of the sale, the senior vice president now owns 20,480 shares of the company’s stock, valued at $5,639,372.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Friday, June 14th. The stock was sold at an average price of $309.09, for a total transaction of $463,635.00. Following the completion of the transaction, the director now directly owns 48,051 shares in the company, valued at $14,852,083.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,134 shares of company stock worth $12,232,169. Corporate insiders own 1.99% of the company’s stock.

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.