Callan Family Office LLC Takes Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Callan Family Office LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,023 shares of the software maker’s stock, valued at approximately $908,000.

A number of other large investors also recently made changes to their positions in the stock. Welch & Forbes LLC acquired a new stake in Cadence Design Systems during the 4th quarter worth $204,000. E Fund Management Co. Ltd. grew its holdings in shares of Cadence Design Systems by 88.9% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,207 shares of the software maker’s stock valued at $3,668,000 after acquiring an additional 5,746 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of Cadence Design Systems by 22.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,054 shares of the software maker’s stock valued at $918,000 after acquiring an additional 552 shares in the last quarter. Freestone Capital Holdings LLC grew its holdings in shares of Cadence Design Systems by 2.4% in the 4th quarter. Freestone Capital Holdings LLC now owns 2,157 shares of the software maker’s stock valued at $648,000 after acquiring an additional 50 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Cadence Design Systems by 1.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker’s stock valued at $670,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 0.0 %

Shares of NASDAQ:CDNS opened at $243.21 on Friday. Cadence Design Systems, Inc. has a 12-month low of $233.72 and a 12-month high of $328.99. The stock has a market cap of $66.67 billion, a PE ratio of 63.01, a P/E/G ratio of 3.88 and a beta of 1.05. The business has a 50 day moving average of $288.68 and a 200-day moving average of $285.44. 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 (NASDAQ:CDNS) last issued its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 5,920 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares in the company, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John M. Wall sold 4,224 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total value of $1,305,342.72. Following the completion of the sale, the chief financial officer now owns 29,248 shares of the company’s stock, valued at approximately $9,038,509.44. This trade represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,416 shares of company stock worth $33,504,126. Company insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CDNS shares. Rosenblatt Securities raised their price objective on Cadence Design Systems from $280.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a “buy” rating and set a $325.00 price target on shares of Cadence Design Systems in a report on Wednesday, February 19th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Mizuho boosted their price target on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Redburn Atlantic started coverage on Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.92.

Cadence Design Systems 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.