Himension Capital Singapore PTE. LTD. Boosts Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Himension Capital Singapore PTE. LTD. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,119 shares of the software maker's stock after acquiring an additional 1,091 shares during the period. Cadence Design Systems comprises 0.3% of Himension Capital Singapore PTE. LTD.'s investment portfolio, making the stock its 28th biggest holding. Himension Capital Singapore PTE. LTD.'s holdings in Cadence Design Systems were worth $3,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC increased its holdings in Cadence Design Systems by 12.4% in the fourth quarter. Avior Wealth Management LLC now owns 326 shares of the software maker's stock valued at $98,000 after buying an additional 36 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Cadence Design Systems by 1.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker's stock valued at $670,000 after acquiring an additional 38 shares during the last quarter. Oarsman Capital Inc. raised its position in shares of Cadence Design Systems by 3.8% during the 4th quarter. Oarsman Capital Inc. now owns 1,042 shares of the software maker's stock worth $313,000 after acquiring an additional 38 shares in the last quarter. Empower Advisory Group LLC lifted its stake in Cadence Design Systems by 4.9% during the fourth quarter. Empower Advisory Group LLC now owns 875 shares of the software maker's stock worth $263,000 after purchasing an additional 41 shares during the last quarter. Finally, Marcum Wealth LLC increased its stake in Cadence Design Systems by 4.1% in the fourth quarter. Marcum Wealth LLC now owns 1,123 shares of the software maker's stock valued at $337,000 after purchasing an additional 44 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total value of $164,216.00. Following the completion of the transaction, the vice president now owns 108,799 shares in the company, valued at $27,486,979.36. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 1,950 shares of company stock valued at $518,499. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

NASDAQ CDNS traded up $2.50 during trading hours on Friday, hitting $256.52. 558,298 shares of the stock were exchanged, compared to its average volume of 1,938,590. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The company has a market cap of $70.37 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $328.99. The stock has a 50-day moving average of $262.24 and a 200 day moving average of $282.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analyst Weigh In

CDNS has been the subject of several research analyst reports. Mizuho upped their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Rosenblatt Securities raised their price target on Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Oppenheimer decreased their price objective on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a report on Wednesday, March 19th. Loop Capital cut their target price on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Finally, Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They set a "buy" rating and a $350.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $324.83.

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.