Weaver Capital Management LLC Has $238,000 Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Weaver Capital Management LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 877 shares of the software maker’s stock after selling 156 shares during the quarter. Weaver Capital Management LLC’s holdings in Cadence Design Systems were worth $238,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its position in Cadence Design Systems by 18.7% during the first quarter. Sunbelt Securities Inc. now owns 865 shares of the software maker’s stock valued at $269,000 after buying an additional 136 shares during the period. Brookstone Capital Management increased its holdings in shares of Cadence Design Systems by 15.4% in the 1st quarter. Brookstone Capital Management now owns 1,037 shares of the software maker’s stock valued at $323,000 after purchasing an additional 138 shares during the period. Wealthcare Advisory Partners LLC lifted its position in shares of 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 purchasing an additional 41 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Cadence Design Systems by 110.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,924 shares of the software maker’s stock valued at $8,692,000 after purchasing an additional 14,644 shares in the last quarter. Finally, 180 Wealth Advisors LLC acquired a new position in Cadence Design Systems in the 1st quarter valued at approximately $207,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. KeyCorp boosted their target price on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target for the company. Mizuho began coverage on Cadence Design Systems in a research note on Tuesday. They issued an “outperform” rating and a $325.00 price target for the company. Finally, Oppenheimer started coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $323.42.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the transaction, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the transaction, the director now owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total value of $177,736.00. Following the sale, the vice president now directly owns 61,761 shares in the company, valued at approximately $16,887,927.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 in the last 90 days. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $249.09 on Thursday. The company has a market capitalization of $67.86 billion, a PE ratio of 64.87, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a one year low of $228.66 and a one year high of $328.99. The company’s fifty day moving average price is $268.47 and its 200 day moving average price is $283.48.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current 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.