Guerra Pan Advisors LLC Makes New $2.06 Million Investment 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,553 shares of the software maker’s stock, valued at approximately $2,057,000. Cadence Design Systems comprises about 2.0% of Guerra Pan Advisors LLC’s portfolio, making the stock its 14th largest position.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in Cadence Design Systems by 3.1% during the 1st quarter. State Street Corp now owns 11,406,581 shares of the software maker’s stock valued at $2,396,402,000 after acquiring an additional 344,518 shares during the period. Jennison Associates LLC grew its stake in shares of Cadence Design Systems by 8.7% in the third quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker’s stock worth $1,651,166,000 after acquiring an additional 564,085 shares during the period. Geode Capital Management LLC grew its stake in shares of Cadence Design Systems by 1.7% in the first quarter. Geode Capital Management LLC now owns 6,188,531 shares of the software maker’s stock worth $1,297,925,000 after acquiring an additional 103,213 shares during the period. Norges Bank bought a new stake in Cadence Design Systems during the fourth quarter valued at approximately $770,945,000. Finally, Northern Trust Corp grew its position in Cadence Design Systems by 5.6% during the third quarter. Northern Trust Corp now owns 2,995,849 shares of the software maker’s stock valued at $701,927,000 after buying an additional 158,031 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $289.00 to $302.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a report on Wednesday, March 6th. StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. Finally, Rosenblatt Securities downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $265.00 to $280.00 in a report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.10.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded down $1.52 during mid-day trading on Tuesday, reaching $300.04. 661,257 shares of the company’s stock traded hands, compared to its average volume of 1,466,452. The company has a market cap of $81.68 billion, a price-to-earnings ratio of 78.94, a PEG ratio of 3.72 and a beta of 1.04. The stock has a 50 day moving average of $306.57 and a two-hundred day moving average of $278.78. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. Cadence Design Systems, Inc. has a 12-month low of $194.01 and a 12-month high of $327.36.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.82 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Thomas P. Beckley sold 65,268 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $296.98, for a total value of $19,383,290.64. Following the transaction, the vice president now directly owns 156,156 shares in the company, valued at $46,375,208.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cadence Design Systems news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the sale, the vice president now directly owns 61,150 shares of the company’s stock, valued at $18,583,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The disclosure for this sale can be found here. Insiders have sold 212,044 shares of company stock worth $63,106,522 over the last quarter. Insiders own 0.62% 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.