TD Asset Management Inc. Has $11.47 Million Holdings in Cadence Design Systems Inc (CDNS)

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TD Asset Management Inc. grew its position in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 63.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,887 shares of the software maker’s stock after purchasing an additional 102,680 shares during the quarter. TD Asset Management Inc. owned about 0.09% of Cadence Design Systems worth $11,474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CDNS. Mondrian Capital Management LLC bought a new stake in Cadence Design Systems during the 4th quarter valued at $43,000. North Star Investment Management Corp. increased its stake in Cadence Design Systems by 80.8% during the 4th quarter. North Star Investment Management Corp. now owns 1,835 shares of the software maker’s stock valued at $80,000 after purchasing an additional 820 shares in the last quarter. Private Ocean LLC bought a new stake in Cadence Design Systems during the 4th quarter valued at $105,000. Advisors Preferred LLC bought a new stake in Cadence Design Systems during the 4th quarter valued at $106,000. Finally, Legacy Financial Advisors Inc. increased its stake in Cadence Design Systems by 91.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,045 shares of the software maker’s stock valued at $132,000 after purchasing an additional 1,452 shares in the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.

In related news, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $48.05, for a total value of $4,805,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Shoven sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $50.00, for a total value of $2,500,000.00. Following the completion of the sale, the director now owns 152,120 shares in the company, valued at $7,606,000. The disclosure for this sale can be found here. Insiders sold a total of 173,208 shares of company stock worth $8,418,984 over the last three months. 2.28% of the stock is owned by insiders.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub upgraded shares of Cadence Design Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a research note on Tuesday, November 20th. They set a “hold” rating and a $50.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $49.00 to $51.00 in a research note on Tuesday, October 23rd. Finally, Benchmark upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, October 23rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Cadence Design Systems currently has an average rating of “Buy” and a consensus price target of $50.75.

CDNS opened at $50.84 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 3.38 and a beta of 1.06. Cadence Design Systems Inc has a 1 year low of $35.49 and a 1 year high of $51.44.

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Cadence Design Systems Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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