Avantra Family Wealth Inc. Buys 480 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Avantra Family Wealth Inc. boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 48.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,474 shares of the software maker’s stock after buying an additional 480 shares during the period. Avantra Family Wealth Inc.’s holdings in Cadence Design Systems were worth $375,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. EWA LLC boosted its stake in Cadence Design Systems by 8.2% during the first quarter. EWA LLC now owns 827 shares of the software maker’s stock valued at $210,000 after buying an additional 63 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Cadence Design Systems during the first quarter valued at $2,016,000. Manning & Napier Advisors LLC boosted its stake in Cadence Design Systems by 28.4% during the first quarter. Manning & Napier Advisors LLC now owns 635,056 shares of the software maker’s stock valued at $161,514,000 after buying an additional 140,501 shares during the period. Center for Financial Planning Inc. boosted its stake in Cadence Design Systems by 66.7% during the first quarter. Center for Financial Planning Inc. now owns 325 shares of the software maker’s stock valued at $83,000 after buying an additional 130 shares during the period. Finally, Weaver Capital Management LLC boosted its stake in Cadence Design Systems by 9.8% during the first quarter. Weaver Capital Management LLC now owns 1,848 shares of the software maker’s stock valued at $470,000 after buying an additional 165 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Anirudh Devgan sold 10,737 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $310.00, for a total value of $3,328,470.00. Following the sale, the chief executive officer now directly owns 209,548 shares of the company’s stock, valued at $64,959,880. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $302.00, for a total value of $302,000.00. Following the completion of the sale, the vice president now directly owns 106,499 shares in the company, valued at $32,162,698. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,625 shares of company stock valued at $5,972,453 over the last ninety days. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Down 0.5%

CDNS opened at $295.40 on Friday. The company has a market cap of $80.66 billion, a P/E ratio of 74.78, a P/E/G ratio of 4.09 and a beta of 0.98. The business’s 50-day moving average price is $296.88 and its 200-day moving average price is $286.75. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $326.19.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CDNS. Rosenblatt Securities lifted their price objective on Cadence Design Systems from $295.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, April 29th. Robert W. Baird raised their price target on Cadence Design Systems from $293.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Bank of America raised their price target on Cadence Design Systems from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and set a $325.00 price target on shares of Cadence Design Systems in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price target on Cadence Design Systems from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $325.23.

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.