Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 99.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 848 shares of the software maker's stock after selling 226,004 shares during the period. International Assets Investment Management LLC's holdings in Cadence Design Systems were worth $252,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CDNS. State Street Corp lifted its stake in Cadence Design Systems by 0.5% in the 3rd quarter. State Street Corp now owns 11,922,747 shares of the software maker's stock valued at $3,231,422,000 after buying an additional 60,490 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Cadence Design Systems by 2.7% in the third quarter. Jennison Associates LLC now owns 7,606,175 shares of the software maker's stock valued at $2,061,502,000 after acquiring an additional 198,230 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cadence Design Systems by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker's stock worth $1,081,098,000 after acquiring an additional 37,452 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Cadence Design Systems by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker's stock worth $885,356,000 after purchasing an additional 178,212 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker's stock valued at $689,472,000 after purchasing an additional 572,251 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 3,171 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the sale, the vice president now owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the transaction, the director now directly owns 42,051 shares in the company, valued at approximately $11,928,186.66. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,916 shares of company stock valued at $33,953,757 in the last three months. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Down 1.2 %

NASDAQ:CDNS opened at $299.00 on Monday. The stock has a 50-day simple moving average of $304.20 and a 200-day simple moving average of $285.41. The stock has a market cap of $82.00 billion, a P/E ratio of 78.48, a P/E/G ratio of 4.16 and a beta of 1.04. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

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

Wall Street Analyst Weigh In

CDNS has been the subject of a number of research reports. Berenberg Bank began coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a "buy" rating and a $320.00 target price for the company. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Wells Fargo & Company started coverage on Cadence Design Systems in a report on Friday, November 22nd. They issued an "overweight" rating and a $350.00 price target for the company. Oppenheimer assumed coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an "underperform" rating and a $225.00 target price for the company. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $327.92.

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.