Aaron Wealth Advisors LLC Has $298,000 Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Aaron Wealth Advisors LLC lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 992 shares of the software maker’s stock after buying an additional 202 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Cadence Design Systems were worth $298,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blair William & Co. IL raised its position in shares of Cadence Design Systems by 1.7% in the 2nd quarter. Blair William & Co. IL now owns 5,195 shares of the software maker’s stock worth $1,599,000 after acquiring an additional 87 shares in the last quarter. Brighton Jones LLC grew its stake in Cadence Design Systems by 11.7% during the second quarter. Brighton Jones LLC now owns 876 shares of the software maker’s stock worth $270,000 after purchasing an additional 92 shares during the period. AE Wealth Management LLC increased its holdings in Cadence Design Systems by 2.4% in the second quarter. AE Wealth Management LLC now owns 7,110 shares of the software maker’s stock worth $2,188,000 after purchasing an additional 170 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Cadence Design Systems by 81.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,849 shares of the software maker’s stock valued at $569,000 after buying an additional 828 shares during the period. Finally, DRW Securities LLC bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $924,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John M. Wall sold 4,224 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total value of $1,305,342.72. Following the sale, the chief financial officer now directly owns 29,248 shares of the company’s stock, valued at approximately $9,038,509.44. This represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,528,267 over the last three months. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CDNS. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price on the stock. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective on the stock. Needham & Company LLC reduced their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on Cadence Design Systems in a research note on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target on the stock. Finally, Redburn Atlantic began coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $305.60 on Tuesday. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The stock has a market cap of $83.81 billion, a PE ratio of 80.21, a price-to-earnings-growth ratio of 3.44 and a beta of 1.04. The stock’s fifty day simple moving average is $304.43 and its two-hundred day simple moving average is $284.94. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm earned $1.01 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. As a group, analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

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.