Nicolet Advisory Services LLC Acquires 197 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nicolet Advisory Services LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 21.0% in the first quarter, Holdings Channel reports. The firm owned 1,134 shares of the software maker’s stock after purchasing an additional 197 shares during the period. Nicolet Advisory Services LLC’s holdings in Cadence Design Systems were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CDNS. Cumberland Partners Ltd purchased a new stake in Cadence Design Systems during the 1st quarter worth about $300,000. Dorsey & Whitney Trust CO LLC grew its position in Cadence Design Systems by 22.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,233 shares of the software maker’s stock worth $384,000 after acquiring an additional 228 shares during the last quarter. Leo Wealth LLC bought a new position in Cadence Design Systems during the 1st quarter worth approximately $225,000. Element Capital Management LLC bought a new position in Cadence Design Systems during the 1st quarter worth approximately $1,860,000. Finally, D Orazio & Associates Inc. purchased a new stake in Cadence Design Systems in the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $322.00 to $341.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Monday, April 22nd. Bank of America upped their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, KeyCorp increased their target price on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $334.89.

Insider Transactions at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $314.57, for a total transaction of $471,855.00. Following the sale, the director now owns 46,551 shares of the company’s stock, valued at approximately $14,643,548.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Chin-Chi Teng sold 32,184 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total value of $9,573,130.80. Following the sale, the vice president now directly owns 95,408 shares in the company, valued at $28,379,109.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Monday, July 15th. The stock was sold at an average price of $314.57, for a total value of $471,855.00. Following the transaction, the director now directly owns 46,551 shares of the company’s stock, valued at $14,643,548.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,134 shares of company stock worth $14,987,093. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded up $2.12 during mid-day trading on Friday, hitting $279.95. The company had a trading volume of 2,607,527 shares, compared to its average volume of 1,519,109. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $76.26 billion, a price-to-earnings ratio of 72.90, a P/E/G ratio of 3.43 and a beta of 1.03. The company’s fifty day moving average is $302.82 and its 200-day moving average is $297.62. Cadence Design Systems, Inc. has a 12-month low of $217.77 and a 12-month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) 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. The firm 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 revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 EPS. Equities research analysts predict that Cadence Design Systems, Inc. will post 4.77 EPS 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.