Osborne Partners Capital Management LLC Has $356,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Osborne Partners Capital Management LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 20.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,400 shares of the software maker’s stock after buying an additional 236 shares during the period. Osborne Partners Capital Management LLC’s holdings in Cadence Design Systems were worth $356,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Advisory Resource Group raised its holdings in shares of Cadence Design Systems by 11.3% during the first quarter. Advisory Resource Group now owns 3,977 shares of the software maker’s stock worth $1,011,000 after acquiring an additional 403 shares during the period. Trivant Custom Portfolio Group LLC raised its stake in shares of Cadence Design Systems by 15.4% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 2,799 shares of the software maker’s stock valued at $712,000 after purchasing an additional 373 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Cadence Design Systems by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 32,128 shares of the software maker’s stock valued at $8,171,000 after purchasing an additional 860 shares during the period. Kingswood Wealth Advisors LLC raised its position in Cadence Design Systems by 8.3% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,075 shares of the software maker’s stock valued at $273,000 after buying an additional 82 shares during the last quarter. Finally, Lion Street Advisors LLC raised its position in Cadence Design Systems by 35.0% in the 1st quarter. Lion Street Advisors LLC now owns 1,122 shares of the software maker’s stock valued at $285,000 after buying an additional 291 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Mizuho lifted their target price on Cadence Design Systems from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Robert W. Baird lifted their price objective on shares of Cadence Design Systems from $293.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Needham & Company LLC reiterated a “buy” rating and issued a $325.00 price target on shares of Cadence Design Systems in a research note on Tuesday, May 13th. Wells Fargo & Company lifted their price target 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. Finally, Bank of America lifted their price target on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $325.23.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $295.40 on Friday. The business’s 50 day moving average price is $296.88 and its two-hundred day moving average price is $287.01. The company has a market cap of $80.66 billion, a PE ratio of 74.78, a price-to-earnings-growth ratio of 4.11 and a beta of 0.98. The company has a quick ratio of 2.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.52. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $326.19.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. On average, analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In related news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total transaction of $164,216.00. Following the sale, the vice president now owns 108,799 shares in the company, valued at approximately $27,486,979.36. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James D. Plummer sold 868 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $319.95, for a total value of $277,716.60. Following the completion of the sale, the director now directly owns 23,996 shares in the company, valued at approximately $7,677,520.20. This represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,625 shares of company stock valued at $5,972,453. 1.99% of the stock is owned by insiders.

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.