Natixis Advisors L.P. Purchases 1,194 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Natixis Advisors L.P. boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,138 shares of the software maker’s stock after acquiring an additional 1,194 shares during the period. Natixis Advisors L.P.’s holdings in Cadence Design Systems were worth $35,990,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in Cadence Design Systems by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock worth $140,000 after buying an additional 38 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in Cadence Design Systems by 0.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock worth $1,411,000 after buying an additional 39 shares during the last quarter. BSW Wealth Partners boosted its holdings in Cadence Design Systems by 2.8% during the fourth quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock worth $442,000 after buying an additional 44 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Cadence Design Systems by 2.5% during the third quarter. Lindbrook Capital LLC now owns 1,844 shares of the software maker’s stock worth $432,000 after buying an additional 45 shares during the last quarter. Finally, Savant Capital LLC boosted its holdings in Cadence Design Systems by 2.7% during the third quarter. Savant Capital LLC now owns 1,733 shares of the software maker’s stock worth $406,000 after buying an additional 45 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. Robert W. Baird raised their price target on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. KeyCorp lifted 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. Morgan Stanley raised Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $260.00 to $350.00 in a research report on Wednesday, February 14th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.11.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded up $5.19 during midday trading on Friday, hitting $281.63. 1,371,195 shares of the company’s stock were exchanged, compared to its average volume of 1,806,029. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. Cadence Design Systems, Inc. has a 12 month low of $198.92 and a 12 month high of $327.36. The company’s 50 day moving average price is $302.46 and its 200 day moving average price is $281.91. The firm has a market capitalization of $76.64 billion, a PE ratio of 73.34, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.78 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total value of $165,216.00. Following the completion of the transaction, the senior vice president now owns 20,480 shares of the company’s stock, valued at approximately $5,639,372.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total value of $165,216.00. Following the sale, the senior vice president now owns 20,480 shares in the company, valued at approximately $5,639,372.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total value of $275,360.00. Following the sale, the vice president now owns 67,144 shares in the company, valued at approximately $18,488,771.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,566 shares of company stock valued at $52,649,105. Corporate insiders own 1.99% of the company’s stock.

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.