GF Fund Management CO. LTD. Sells 1,675 Shares of Cadence Design Systems, Inc. $CDNS

GF Fund Management CO. LTD. lowered its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,389 shares of the software maker’s stock after selling 1,675 shares during the period. GF Fund Management CO. LTD.’s holdings in Cadence Design Systems were worth $30,345,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CDNS. Brighton Jones LLC lifted its stake in shares of Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the period. Integrated Wealth Concepts LLC raised its position in Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after acquiring an additional 80 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Cadence Design Systems by 26.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,408 shares of the software maker’s stock worth $434,000 after acquiring an additional 291 shares during the last quarter. RFG Advisory LLC grew its position in shares of Cadence Design Systems by 4.9% during the 2nd quarter. RFG Advisory LLC now owns 2,126 shares of the software maker’s stock valued at $655,000 after acquiring an additional 100 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of Cadence Design Systems by 17.8% in the 2nd quarter. Harbour Investments Inc. now owns 358 shares of the software maker’s stock worth $110,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the transaction, the chief executive officer owned 195,844 shares in the company, valued at approximately $66,586,960. The trade was a 9.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director directly owned 7,650 shares in the company, valued at approximately $2,581,722. This represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,475 shares of company stock worth $18,505,486 in the last quarter. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CDNS shares. JPMorgan Chase & Co. lifted their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Citigroup began coverage on Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price objective for the company. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Robert W. Baird upped their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Monday, December 29th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.59.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $299.46 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The firm has a market cap of $81.51 billion, a price-to-earnings ratio of 77.18, a P/E/G ratio of 3.33 and a beta of 1.01. The firm has a fifty day moving average price of $311.67 and a 200 day moving average price of $330.15. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.