Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Tamar Securities LLC

Tamar Securities LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,743 shares of the software maker's stock after buying an additional 5,110 shares during the period. Cadence Design Systems comprises approximately 3.6% of Tamar Securities LLC's holdings, making the stock its 8th largest holding. Tamar Securities LLC's holdings in Cadence Design Systems were worth $25,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Missouri Trust & Investment Co purchased a new position in Cadence Design Systems in the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Cadence Design Systems during the third quarter worth about $28,000. Versant Capital Management Inc increased its holdings in shares of Cadence Design Systems by 164.2% during the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock valued at $42,000 after acquiring an additional 87 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Cadence Design Systems by 56.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker's stock valued at $45,000 after purchasing an additional 60 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Cadence Design Systems by 30.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker's stock worth $55,000 after purchasing an additional 47 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Transactions at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 5,920 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the completion of the sale, the chief executive officer now owns 55,874 shares of the company's stock, valued at approximately $16,987,930.96. This represents a 9.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Scannell sold 3,171 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the transaction, the vice president now directly owns 14,318 shares in the company, valued at $4,378,158.04. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock valued at $33,528,267 over the last ninety days. Insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent analyst reports. Loop Capital initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They set a "buy" rating and a $360.00 price target on the stock. Redburn Atlantic started coverage on Cadence Design Systems in a research report on Monday, January 13th. They set a "buy" rating and a $350.00 price target for the company. Rosenblatt Securities reissued a "neutral" rating and issued a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Robert W. Baird lifted their target price on Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC cut their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $329.50.

Cadence Design Systems Price Performance

NASDAQ CDNS traded up $9.43 on Tuesday, hitting $299.30. The company had a trading volume of 2,261,945 shares, compared to its average volume of 1,647,420. The company's fifty day moving average price is $306.05 and its 200-day moving average price is $284.72. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a market capitalization of $82.09 billion, a PE ratio of 78.56, a PEG ratio of 3.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. Cadence Design Systems's revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

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.