David J Yvars Group Purchases New Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

David J Yvars Group acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,070 shares of the software maker's stock, valued at approximately $3,757,000. Cadence Design Systems makes up about 2.5% of David J Yvars Group's investment portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gulf International Bank UK Ltd boosted its stake in Cadence Design Systems by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 22,525 shares of the software maker's stock worth $7,011,000 after purchasing an additional 136 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of Cadence Design Systems by 3.6% in the first quarter. First Affirmative Financial Network now owns 1,325 shares of the software maker's stock worth $412,000 after acquiring an additional 46 shares in the last quarter. Inscription Capital LLC increased its holdings in shares of Cadence Design Systems by 6.5% in the first quarter. Inscription Capital LLC now owns 1,159 shares of the software maker's stock worth $361,000 after acquiring an additional 71 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Cadence Design Systems by 4.2% during the first quarter. Park Avenue Securities LLC now owns 17,097 shares of the software maker's stock worth $5,322,000 after buying an additional 682 shares during the period. Finally, Legacy Financial Strategies LLC acquired a new position in shares of Cadence Design Systems during the first quarter worth about $244,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 21,700 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $311.40, for a total value of $6,757,380.00. Following the sale, the chief financial officer now owns 41,035 shares in the company, valued at $12,778,299. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cadence Design Systems news, CFO John M. Wall sold 21,700 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $311.40, for a total transaction of $6,757,380.00. Following the sale, the chief financial officer now owns 41,035 shares in the company, valued at $12,778,299. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $309.09, for a total value of $463,635.00. Following the sale, the director now owns 48,051 shares in the company, valued at approximately $14,852,083.59. The disclosure for this sale can be found here. Insiders have sold 62,834 shares of company stock valued at $18,989,549 in the last 90 days. 1.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on CDNS shares. 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. Wells Fargo & Company raised their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 target price on shares of Cadence Design Systems in a report on Friday, May 17th. StockNews.com lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Thursday, May 2nd. Finally, KeyCorp boosted their target price on Cadence Design Systems from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $331.11.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded down $0.14 during midday trading on Friday, reaching $318.39. The company's stock had a trading volume of 2,713,394 shares, compared to its average volume of 1,519,347. Cadence Design Systems, Inc. has a 12-month low of $217.77 and a 12-month high of $328.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. The firm has a 50 day moving average price of $292.83 and a 200-day moving average price of $292.26. The stock has a market capitalization of $86.74 billion, a P/E ratio of 82.91, a PEG ratio of 3.90 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. Cadence Design Systems's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 4.77 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.