Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Holdings Raised by DSM Capital Partners LLC

DSM Capital Partners LLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,078 shares of the software maker's stock after purchasing an additional 54,030 shares during the period. Cadence Design Systems comprises approximately 1.3% of DSM Capital Partners LLC's holdings, making the stock its 22nd biggest holding. DSM Capital Partners LLC owned 0.10% of Cadence Design Systems worth $85,354,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co purchased a new position in shares of Cadence Design Systems during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Cadence Design Systems during the 3rd quarter worth approximately $28,000. Versant Capital Management Inc grew its stake in Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock worth $42,000 after acquiring an additional 87 shares during the period. Finally, Prestige Wealth Management Group LLC grew its stake in 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 worth $45,000 after acquiring an additional 60 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 93,151 shares of Cadence Design Systems stock in a transaction on Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the sale, the chief executive officer now owns 55,874 shares of the company's stock, valued at $17,320,940. The trade was a 62.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now directly owns 60,461 shares in the company, valued at $18,512,553.59. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,416 shares of company stock worth $33,538,875. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CDNS has been the subject of several recent analyst reports. Robert W. Baird lowered their target price on shares of Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday. Mizuho lifted their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday. StockNews.com cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Rosenblatt Securities lifted their target price on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $326.92.

Cadence Design Systems Stock Down 4.4 %

Shares of NASDAQ:CDNS traded down $11.96 during midday trading on Friday, hitting $258.27. 4,553,254 shares of the company's stock traded hands, compared to its average volume of 1,870,280. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The company has a market cap of $70.83 billion, a PE ratio of 66.91, a P/E/G ratio of 3.17 and a beta of 1.03. The firm's fifty day moving average price is $301.51 and its two-hundred day moving average price is $286.95. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.33). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.57 EPS for the current fiscal 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.