Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,583 shares of the software maker’s stock after selling 2,271 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Cadence Design Systems worth $23,302,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. LPL Financial LLC raised its stake in Cadence Design Systems by 8.3% during the 2nd quarter. LPL Financial LLC now owns 99,299 shares of the software maker’s stock valued at $14,898,000 after acquiring an additional 7,627 shares in the last quarter. Verition Fund Management LLC raised its stake in Cadence Design Systems by 6,918.8% during the 2nd quarter. Verition Fund Management LLC now owns 38,463 shares of the software maker’s stock valued at $5,771,000 after acquiring an additional 37,915 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Cadence Design Systems by 0.4% during the 3rd quarter. Gulf International Bank UK Ltd now owns 42,457 shares of the software maker’s stock valued at $6,938,000 after acquiring an additional 179 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in Cadence Design Systems by 32.0% during the 3rd quarter. Janiczek Wealth Management LLC now owns 1,953 shares of the software maker’s stock valued at $302,000 after acquiring an additional 474 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Cadence Design Systems by 222.3% during the 2nd quarter. Jennison Associates LLC now owns 15,090 shares of the software maker’s stock valued at $2,264,000 after acquiring an additional 10,408 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Insider Activity

In other news, VP Paul Cunningham sold 250 shares of Cadence Design Systems stock in a transaction on Monday, November 7th. The stock was sold at an average price of $143.63, for a total transaction of $35,907.50. Following the transaction, the vice president now owns 93,689 shares in the company, valued at $13,456,551.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cadence Design Systems news, insider Lip Bu Tan sold 42,500 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $173.39, for a total value of $7,369,075.00. Following the completion of the sale, the insider now owns 602,589 shares of the company’s stock, valued at $104,482,906.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 250 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $143.63, for a total value of $35,907.50. Following the completion of the sale, the vice president now directly owns 93,689 shares of the company’s stock, valued at approximately $13,456,551.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,250 shares of company stock worth $22,235,385. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $182.38 on Wednesday. Cadence Design Systems, Inc. has a 52-week low of $132.32 and a 52-week high of $194.97. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $50.03 billion, a price-to-earnings ratio of 64.22, a PEG ratio of 2.48 and a beta of 1.10. The stock’s fifty day simple moving average is $165.98 and its 200 day simple moving average is $166.61.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last issued its quarterly earnings results on Monday, October 24th. The software maker reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The business had revenue of $902.55 million for the quarter, compared to the consensus estimate of $868.85 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Cadence Design Systems’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 3.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Cadence Design Systems to $206.00 in a research note on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft began coverage on Cadence Design Systems in a research note on Wednesday, September 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Bank of America raised Cadence Design Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $205.00 in a research note on Friday, December 16th. Atlantic Securities raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research note on Tuesday, January 17th. Finally, Rosenblatt Securities dropped their price objective on Cadence Design Systems from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $195.50.

About Cadence Design Systems

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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.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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