Guerra Pan Advisors LLC Invests $2.06 Million in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Guerra Pan Advisors LLC purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,553 shares of the software maker’s stock, valued at approximately $2,057,000. Cadence Design Systems comprises 2.0% of Guerra Pan Advisors LLC’s portfolio, making the stock its 14th biggest holding.

A number of other hedge funds have also modified their holdings of CDNS. OFI Invest Asset Management acquired a new position in Cadence Design Systems during the third quarter worth $26,000. Valley National Advisers Inc. boosted its holdings in Cadence Design Systems by 90.4% during the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after acquiring an additional 47 shares during the period. Fortitude Family Office LLC bought a new stake in Cadence Design Systems during the fourth quarter valued at about $28,000. Atlas Capital Advisors LLC boosted its holdings in Cadence Design Systems by 322.6% during the second quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Cadence Design Systems by 108.3% in the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after buying an additional 117 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 0.5 %

Shares of Cadence Design Systems stock traded down $1.52 on Tuesday, hitting $300.04. 661,257 shares of the company’s stock traded hands, compared to its average volume of 1,466,452. The firm’s 50-day moving average price is $306.57 and its two-hundred day moving average price is $278.78. The stock has a market capitalization of $81.68 billion, a PE ratio of 78.94, a price-to-earnings-growth ratio of 3.72 and a beta of 1.04. Cadence Design Systems, Inc. has a one year low of $194.01 and a one year high of $327.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating the consensus estimate of $1.33 by $0.05. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts expect that Cadence Design Systems, Inc. will post 4.82 EPS for the current fiscal year.

Analyst Ratings Changes

CDNS has been the subject of several recent research reports. KeyCorp increased their price target on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler initiated coverage on shares of Cadence Design Systems in a report on Thursday, April 4th. They set a “neutral” rating and a $334.00 price objective for the company. Finally, Morgan Stanley raised shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $316.10.

Insider Activity

In other news, CFO John M. Wall sold 36,000 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $277.46, for a total value of $9,988,560.00. Following the completion of the transaction, the chief financial officer now owns 80,594 shares of the company’s stock, valued at approximately $22,361,611.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO John M. Wall sold 36,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $277.46, for a total value of $9,988,560.00. Following the completion of the transaction, the chief financial officer now directly owns 80,594 shares of the company’s stock, valued at approximately $22,361,611.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Aneel Zaman sold 1,207 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the transaction, the vice president now directly owns 61,150 shares of the company’s stock, valued at $18,583,485. The disclosure for this sale can be found here. Insiders sold 212,044 shares of company stock valued at $63,106,522 in the last quarter. Company insiders own 0.62% of the company’s stock.

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.