Consilio Wealth Advisors LLC Buys Shares of 969 Cadence Design Systems, Inc. (NASDAQ:CDNS)

Consilio Wealth Advisors LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 969 shares of the software maker’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in Cadence Design Systems by 8.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock valued at $140,000 after buying an additional 38 shares during the last quarter. Highview Capital Management LLC DE boosted 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 valued at $1,411,000 after purchasing an additional 39 shares during the last quarter. Fiduciary Trust Co grew its stake in Cadence Design Systems by 0.6% during the 4th quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock valued at $1,833,000 after purchasing an additional 39 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Cadence Design Systems by 4.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock worth $296,000 after purchasing an additional 41 shares during the last quarter. Finally, Capital Market Strategies LLC raised its position in shares of Cadence Design Systems by 3.4% in the 1st quarter. Capital Market Strategies LLC now owns 1,261 shares of the software maker’s stock valued at $393,000 after purchasing an additional 42 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Chin-Chi Teng sold 32,184 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total value of $9,573,130.80. Following the completion of the transaction, the vice president now owns 95,408 shares of the company’s stock, valued at $28,379,109.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $308.83, for a total value of $463,245.00. Following the completion of the sale, the director now directly owns 50,183 shares in the company, valued at $15,498,015.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chin-Chi Teng sold 32,184 shares of Cadence Design Systems stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $297.45, for a total value of $9,573,130.80. Following the transaction, the vice president now owns 95,408 shares in the company, valued at $28,379,109.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,534 shares of company stock worth $11,735,433. 0.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDNS. KeyCorp lifted their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, April 22nd. Robert W. Baird lifted their price target on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Bank of America upped their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $330.00 to $350.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $332.78.

Cadence Design Systems Stock Performance

NASDAQ:CDNS traded up $3.17 during midday trading on Monday, reaching $310.92. 1,330,007 shares of the company traded hands, compared to its average volume of 1,560,583. The firm has a market capitalization of $84.70 billion, a price-to-earnings ratio of 80.97, a price-to-earnings-growth ratio of 3.77 and a beta of 1.03. The company has a fifty day moving average price of $294.50 and a 200 day moving average price of $293.96. 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 twelve month low of $217.77 and a twelve month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 earnings per share. On average, analysts expect that Cadence Design Systems, Inc. will post 4.77 EPS 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.